Impact of Trump's Tariffs on China

The introduction of tariffs during Trump's administration has drastically increased the average tariff rate on Chinese goods, climbing from 3% in 2017 to 39% by 2023. This phased approach to tariffs aimed to gradually exert pressure on China for trade negotiations. The tariffs serve dual purposes: diversifying manufacturing away from China and creating leverage for negotiations. However, the long-term effectiveness of these tariffs in achieving a grand deal remains uncertain, as they may create crises that prompt negotiations while also challenging U.S. relations with allies.