China Risks Losing $488 Billion In US Exports Without Trade Deal: 'Protectionism Doesn't Protect...'

A report by the Observatory of Economic Complexity warns that without a trade deal, China could lose $488 billion in exports to the U.S. by 2027 due to proposed tariffs. The U.S. trade with China may decline by $101 billion, affecting sectors like computers and apparel. The report predicts increased Chinese exports to Southeast Asia and Europe. Ongoing U.S.-China trade discussions are crucial to avoid steep tariffs reinstatement. Former Commerce Secretary Carlos Gutierrez emphasized that protectionism harms economic vitality.