In Zhongnanhai, the seat of China’s central government, located next to Beijing’s Forbidden City, a team has likely being reviewing economic contingency plans prepared for the event of Donald Trump’s victory. If the president-elect follows through on his promises — and he has vowed to do so in his first speech — the United States will impose 60% tariffs on Chinese goods, potentially triggering a new phase of the trade war that Trump himself started in 2018.
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