Donald Trump¡¯s China trade war frayed economic ties between the two global superpowers. His second-term plans risk cutting them entirely.
The former president is pitching a 60% tariff on all Chinese imports. That would shrink a $575 billion trade pipeline to practically nothing, Bloomberg Economics analysis shows. And it¡¯s not the only escalation Trump has in mind if he converts a narrow poll lead over incumbent Joe Biden into victory in November.
For China¡¯s economy and its slumping stock market ¡ª down more than 40% from its 2021 high ¡ª that¡¯s bad news. Worse, Trump¡¯s rhetoric may add pressure on Biden to take harsher measures in the run-up to election day.
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