By Bloomberg (Business) | Created at 2024-11-06 11:56:18 | Updated at 2024-11-06 14:38:23
2 hours ago
When Donald Trump first started a trade war with China in 2018, Beijing found itself on the back foot and unsure of how to respond. This time President Xi Jinping is better prepared for a fight, even as he has more to lose.
Trump, who won a second term as president in an election on Tuesday, has threatened to put tariffs of as much as 60% on Chinese goods, a level that Bloomberg Economics says will decimate trade between the world’s biggest economies. That’s on top of a range of export controls on advanced technology that the Biden administration has only tightened since Trump left office.
