Trump’s 104 percent tariff will bring such a decline in China’s GDP

America Tariff on China: The US has announced to impose 104 percent tariffs on China. There was already 20 percent tariff on Chinese goods sent to America. After this, 34 percent recipes were imposed on China, which has now been increased to 84 percent. That is, the US has imposed a total tariff of 104 percent on Chinese exports. With this, China’s economy is expected to get a big shock.

Tariff reduces China’s growth target

Global brokerage firm Goldman Sachs has warned that the imposition of 104 percent tariff on Chinese goods can lead to a decline of up to 2.4 percent in the economy here. On the one hand, where China has kept a target of 5 percent growth this year, if the tension with America continues to grow in this way, then China will not achieve this goal. Goldman Sachs has estimated a growth less than 4.5 percent. This tariff on China has come into force from today.

America’s dependence on Chinese imports

While announcing the reciperook tariff on April 2, Trump said that the US is going to put a baseline tariff of 10 percent on almost all its trading partners. This rate will be even higher on countries with trade deficit with America.

Goldman Sachs also said that he cannot say anything with the claim about the economic impact of the tariff because there are many things whose only supplier is China. The US is also dependent on China for 70 percent of its supply, which is about one third of the Chinese imports. In such a situation, it is difficult for America to find an option immediately. Goldman says that in view of the current dependence on Chinese goods, it may be reduced.

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