Analysts believe Donald Trump will impose massive tariffs on China
Reportedly the counting of votes on wednesday showed donald trump is set to become the 47th President of the United States, winning the four swing states, including the main Pennsylvania, almost reaching the halfway mark of the 270 electoral college votes, much ahead of Democrat Kamala Harris. In his second term, trump could remove pharmaceutical manufacturing in china for the US market. He may attempt to acquire and protect key minerals required for high-tech manufacturing, and will certainly continue to strengthen his goal of bringing manufacturing back to the US.Meanwhile trump would also likely introduce a ‘witch hunt’ against anyone he considers a ‘Chinese spy’. This would not only bring both the economies close to a possible state of decoupling, but also disrupt more crucial scientific research. “Both initiatives could endanger economic and scientific progress in the US and globally," as per a report by Brandeis university, a research university in Massachusetts, US. trump went after china on genocide in Xinjiang and the National Security Law in hong kong censoring free speech in the former british colony. His administration had also blocked certain Chinese telecommunications companies from doing business in the US.
Moreover china could take these steps to tank US markets and create a sense of panic, which could lead some of Trump’s business allies to fly to Washington and implore him to stabilize ties with Beijing, as per the Foreign Policy report. But markets are underpricing the possibility of a flare up in US-China relations and an escalatory spiral as a result.
Moreover china could take these steps to tank US markets and create a sense of panic, which could lead some of Trump’s business allies to fly to Washington and implore him to stabilize ties with Beijing, as per the Foreign Policy report. But markets are underpricing the possibility of a flare up in US-China relations and an escalatory spiral as a result.