Trump tariffs may drive China’s bad loans to pandemic-high levels, S&P says

Trump tariffs may drive China’s bad loans to pandemic-high levels, S&P says

Non-performing assets ratio could approach 6.5 per cent seen during the Covid-19 pandemic in 2022 if tariffs hit harder.

Trump's government has put together a follow-up package that is likely to hit the global economy hard. Individual states are being burdened more than others, while some countries such as Russia are missing.

U.S. President Donald Trump announced on Wednesday, April 2, that his country will impose 34 percent tariffs on China, which add to the current 20 percent levies, and 26 percent on imports from India. Thus, Chinese imports will be subject to a total tariff of 54 percent. The 34 percent announced today adds to the 20 percent Trump had already imposed since his return to the White House on January 20.

China’s export machine hit with at least 54% Trump tariffs

A simulation shows trade between world’s largest economies could shrink to practically nothing with the new high tariffs. Read more at straitstimes.com.

U.S. Confirms 34% Tariff on China, Total Now 54%

The U.S. confirms that the new 34% tariff against China is in addition to the existing 20% — bringing the total to 54%

After the US announced a "huge" tax rate of 54% on imported goods from China, the Ministry of Commerce and the Ministry of Foreign Affairs of the billion-people country had different initial reactions.