Trump’s tariffs offer China an opportunity riding a dangerous wind

Larry Hu, chief China economist at investment bank Macquarie, estimated that Trump’s latest tariffs could reduce China’s exports by 15 percentage points and its gross domestic product growth by 2-2.5 percentage points. “The impact could manifest itself through multiple channels such as falling US demand for Chinese goods, the potential global economic slowdown and the hit on export re-routing,” Hu wrote in a research report released on Thursday.

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