US President-elect Donald Trump plans to challenge China economically and strategically.
Many American goods have supply chains that start in China. If new US tariffs make Chinese currency weaker, Chinese products will still be cheap for now. However, if the cost of imported Chinese goods goes up, it could hurt lower-income Americans and US manufacturers who use imported parts.
Some people think Trump’s proposed tariffs might make companies move their factories from China to other countries with lower wages. But this won’t bring many jobs back to the US.
There is one thing Trump can do quickly that would impress the world: stop Russia‘s war in Ukraine. This would be a big win for the US and give Trump more power to deal with China.
Trump can cut off most of Russia’s oil revenue on his first day as President. Without this money, Russia’s military will struggle. The Russian economy is small compared to the US, but it has friends like Iran, North Korea, and China that help it punch above its weight.
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