More money may be coming via trade war tariffs—and it's not just from China
Trump is expected to decide on tariff rates for automotive imports by May 17. U.S. imports of cars and car parts from countries outside of Nafta were worth $168.5 billion in 2018. The highest reported level of duties of 25% could be imposed on cars, which would be worth $27 billion in new tariff cashflow, and on components where the tariffs could be worth $15.2 billion.
The trade war has been quiet these past few days. Some people in China, like former Chinese central bank monetary policy committee member Li Daokui, think the Trump Administration will even try to set up a new World Trade Organisation with Europe and exclude China during the 2019 meeting of the Group of 20 nations in Osaka in June. “If this happens, China will not apply to join,” Li said.
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