Trump's 60% Tariff to Slash China's Growth by 5 Points Over 2 Years

Forex - S&P Global Ratings assessed Trump's threat to impose a 60% tariff on imports from China upon taking office with numerical analysis. S&P warned that this move could erase 5 percentage points from China's GDP growth within just two years and could pull the country's growth below 2% by 2026. The organization noted that sectors reliant on exports to the U.S., such as consumer goods, smartphones, computers, auto parts, commodities, home appliances, and batteries, would bear the brunt of the impact.