An expanded US-China trade war during President-elect Donald Trump’s second term could slash the Asian nation’s economic growth by two percentage points and prompt Beijing to stimulate domestic demand, according to Macquarie Group Ltd.
Trump’s campaign vow to raise tariffs on Chinese goods to 60% could cause the nation’s exports to decline by about 8% over the following year, Macquarie economists projected in a note Wednesday. Taking into account the hit to companies’ capital expenditures and business confidence, the impact on GDP would be significant, they said.
Visited 1 times, 1 visit(s) today
