President-elect Donald Trump plans to impose a 10% tariff on all imports from China when he takes office next month.
However, there are concerns that this plan may face challenges, as it is estimated that around $64 billion worth of goods could avoid these tariffs due to existing loopholes and potential underreporting of imports. Experts warn that the complexity of tracking imports and the possibility of misclassification could undermine the effectiveness of the tariff strategy.
This raises concerns about the actual revenue that the government can expect to generate from the proposed tariffs, as many goods may not be accurately accounted for in trade statistics. The implications for U.S.-China trade relations and the broader economic landscape remain uncertain, with stakeholders closely monitoring developments in the coming weeks.