A hard look at the ramifications of tariffs for China
If the 34% tariff is on top of previous tariffs, China's average tariff rate is up 54 ppts this year, swamping what was done in President Trump's first term. Everything now depends on how China reacts. If China devalues the Yuan, that sets off a major risk-off across the world… pic.twitter.com/fkEb9Eei9B
— Robin Brooks (@robin_j_brooks) April 2, 2025