Trump's 60% China Tariffs Would Roil Markets
Date
2/29/2024 1:12:49 AM
(MENAFN- Asia Times) The announcement by former US president Donald Trump that he would impose additional tariffs on Chinese goods, potentially exceeding 60%, if he were to win the US election in November, is sparking concern among global investors.
This move, if implemented, could have profound implications across various sectors, causing volatility in financial markets, disruptions in supply chains and fluctuations in currencies.
Sector-specific impact
The technology sector, highly dependent on international supply chains, would face significant challenges.
According to the Information Technology Industry Council (ITI), a 25% tariff on Chinese imports could result in the loss of 934,000 jobs and a decline in the US GDP by 0.3%. Tech giants, reliant on Chinese manufacturing for components, might see increased production costs, potentially impacting their profit margins and stock prices.
MENAFN29022024000159011032ID1107914883
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.