China’s growth likely to be hit by Trump’s tariffs

Blankfein: That’s what you’d do if it was a negotiating position and you wanted to remind your negotiating counter party of how much firepower you have. — Bloomberg

BEIJING: Donald Trump’s threat to impose tariffs on another US$200bil of Chinese imports could cut as much as half a percentage point from the nation’s economic growth, according to economists.

The warning comes amid signs that the world’s second biggest economy – and biggest contributor to global growth – is already slowing down as a simmering trade dispute with the United States risks spiraling into a protracted trade war.