Now the USA has elected Donald Trump as its next president, traders in China are bracing for another backlash, reports trade expert Ashley Dudarenok on its LinkedIn page. “Trump’s proposed 60% tariffs on Chinese imports + 10-20% on other global goods would set US tariff levels at their highest since the 1940s,” she writes.
Ashley Dudarenok:
It’s official. Trump wins the US election.
🙈 Before the win was official, “Trump announces win (特朗普宣布胜选)” and related hashtags had already racked up 420 million views on Douyin. Many likened the election to a gender reveal party, with one comment saying, “Congratulations USA, it’s a boy!”
Meanwhile, many are focused on real impacts, asking, “Will gold prices drop?” 👇 More below.
With Trump back in office, China’s economic policymakers are bracing for a new wave of trade policy challenges.
📊 According to China Economist, a Trump victory could require China to increase fiscal stimulus by 10-20%. This is more than what might be needed under a Harris administration.
📊 Trump’s proposed 60% tariffs on Chinese imports + 10-20% on other global goods would set US tariff levels at their highest since the 1940s.
📊 Out of 27 Chinese exporters with at least 15% of sales in the US that Reuters spoke with, 12 plan to speed up relocation if Trump returns to the White House.
📊 Four other companies, still based entirely in China, would open factories overseas if Trump raised tariffs. The remaining 11 had no specific plans but were concerned about losing US market access.
✔️ China’s approach will be crucial for its export sector and global supply chains as it navigates this new chapter in US-China trade relations.
✔️ The China’s National People’s Congress Standing Committee is meeting in early November to finalize a stimulus plan size, likely making a decision by Friday, November 8.
Ashley Dudarenok is a speaker at the China Speakers Bureau. Would you like her to be at your meeting or conference? Contact us or fill out our speakers’ request form.
Are you looking for more stories by Ashley Dudarenok? Do check out this list.
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