Trump's new China tax plan makes Asian countries ready for big business change

Former president wants to add extra fees on Chinese goods which could change how Asia makes and ships products. Some nearby countries are getting ready to take Chinese factories place

November 26 2024 , 09:30 PM  •  696 views

Trump's new China tax plan makes Asian countries ready for big business change

Donald Trump announced plans to put extra 10% tax on Chinese stuff and 25% on Mexico-Canada goods (he posted this on his social-media about a week ago). While hes not president yet the idea already made waves in global trade

The ex-presidents plan might need some legal work – like using Section 301 from 74ʼ Trade Act but he could find other quick-fixes too. Its worth noting that Trump often says big things that dont happen: remember his famous border-wall that only got 49 miles done

Beijing wont like being pushed around about things like fentanyl control; they think theyve done enough already. The real-world effect will probably be some kind of new tax – maybe not 60% like Trump said before but something less

  • Vietnam could be the big winner (their costs are just 7% more than China)
  • Kazakhstan might help move goods around
  • Malaysia already has good setup for foreign companies

Chinese companies will try different ways to deal with this: moving to other places using different shipping routes or just talking to Trump himself (he helped companies like ZTE before)

At the UN climate meeting China helped make a $300-billion deal work but didnt promise much money themselves. Their carbon numbers are pretty high now – about 9‚24 tons per person this year which is more than EUʼs 5‚66 but less than US 13‚83

Huawei just made a phone that doesnt need American software which is pretty big news. But getting people to actually use it might be hard – they need lots of app-makers to join in

The social-media world is changing too and Chinaʼs PR people might need to find new places to work: their favorite platform X (old Twitter) isnt as popular as it used to be. New apps like Bluesky are getting more users but Chinese teams are slow to move there