The US announced on 17 September new tariffs on USD200 billion of imports from China, starting with an initial rate of 10% on 24 September and rising to 25% in January 2019. The move came two months after the implementation of the 25% tariffs on USD50 billion of imports from China. Mr. Trump also threatened to impose more tariffs on another USD267 billion of Chinese exports to the US if China retaliates. That would put all Chinese exports to the US under punitive tariffs.
In the worst-case scenario of a fill-scale trade war, where the US levies hefty (say 25%) tariffs on all Chinese exports to the US and China retaliates, how bad would it be for China’s growth?
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