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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
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UBS Cuts China's Growth Forecast as 5% Target Faces Rising Doubt

China's ambitious 5% growth target for 2024 is increasingly seen as unattainable by economists, with UBS Group AG among the latest to lower its forecast. The Swiss bank now predicts a 4.6% GDP growth for the year, down from its previous estimate of 4.9%, citing slow consumer spending and a lack of significant stimulus from the government. The real estate downturn and tight fiscal policies are major factors weighing down economic momentum, leading to growing skepticism among global banks regarding China's ability to meet its growth goal.

Key Takeaways:

  1. UBS Lowers Growth Forecast: UBS has revised China's GDP growth forecast for 2024 down to 4.6%, reflecting concerns over weak consumer spending and the government's reluctance to implement major stimulus measures.

  2. Real Estate Drag: China's ongoing real estate slump is significantly impacting domestic demand and overall economic confidence, leading to widespread downgrades in growth expectations from major financial institutions.

  3. Policy Challenges: Despite Beijing's efforts to revive the economy, including easing measures in the property market, the results have been limited. Analysts are increasingly doubtful that the government's 5% growth target is achievable, with calls for more aggressive fiscal and monetary policies.

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