According to the latest Bloomberg survey of analysts, the next round of tariffs that the US President Trump has threatened on $300 billion of Chinese imports is likely to drag China’s annual GDP growth rate below 6%.
This would be the slowest expansion in almost two decades for the world’s second largest economy.
Key Findings:
“Once introduced, the extra 10% tariffs would cut up to 0.5 percentage point from gross domestic product expansion compared with the previous year,
The new tariffs will subtract between 0.5 and 1 percentage points from China’s export expansion, according to 7 of 12 analysts who answered a question on that.
Currently the U.S. will impose some of the tariffs from Sept. 1, while the rest will go into effect in December.”
- US-China trade war is bad, but we’re doing well – Global Times
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