Harris or Trump: does it matter to China who wins the election?
U.S. Trade Relations with China Will Remain Tense Regardless of Election Outcome.
This view is shared by other experts who believe that both Donald Trump and Kamala Harris will maintain a tough stance on China.
Trump has proposed imposing tariffs on Chinese goods of up to 100% and comprehensive tariffs of 10-20% on all other imports, while Harris is expected to largely follow Biden's tariff policies, CNBC experts have stated.
A Trump victory is likely to escalate trade and economic hostility between the U.S. and China, accelerating trade and financial decoupling.
Harris may also increase tariffs, considering that Biden not only kept Trump's tariffs but added new ones. In May, the U.S. imposed strict tariffs on about $18 billion worth of Chinese imports, including electric vehicles, solar panels, lithium-ion batteries, steel, and aluminum.
In debates, Harris did not clarify her policy regarding China but stated that "U.S. policy towards China should focus on winning the race for the 21st century," with an emphasis on alliances and investments in American technologies.
In April, Yellen met with Chinese officials to discuss the issue of overcapacity and market reforms, stating that "healthy economic relations should ensure a level playing field for companies and workers in both countries.
Beijing has been accused of dumping goods amidst a drop in domestic demand, imposing high tariffs on exports from several countries, and heavily subsidizing industries such as electric vehicle production, which have faced tariffs from both the U.S. and European countries.
In sum the debates did not provide clarity on trade issues with China but noted that the market's reaction to Harris' speech was moderate.
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