Cornell University professor Eswar Prasad joins Market Domination to give insight into the potential for increased tariffs imposed on China from the US and what the US-China trade war could look like. Both President Biden and former President Trump favor tariffs, with the latter campaigning on even steeper import taxes.
Prasad, a Brookings Institute Senior Fellow, elaborates on the current situation China finds itself in:
"I think there is a baseline right now that is going to be very difficult to go below, meaning that it’s going to be difficult to deescalate tensions because in the US there is very little political or economic payoff to doing so. But the reality, of course, is that, if one limits imports from China, that does have effects on US inflation, that does have effects in terms of limiting access to a lot of products that China is now marketing to a very significant extent, where it has a large part of the world capacity. Now, China cannot afford to lose access completely to US and other Western markets…"
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
#biden #trump #china
