Sky News Daily How have Trump's tariffs already affected China?
Apr 2, 2025
Helen-Ann Smith, Sky's Asia correspondent, dives deep into the repercussions of U.S. tariffs on the struggling Chinese economy. They discuss the alarming rise in youth unemployment and the faltering manufacturing sector, revealing how the 20% tax on goods affects local businesses. Helen-Ann shares insights from Guangdong province, where global supply chain shifts pose significant challenges. The conversation also touches on China's strategic positioning amidst U.S. instability, highlighting its narrative of resilience on the global stage.
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China's Economic Struggles
- The Chinese economy is struggling with high youth unemployment and a property downturn.
- Consumer confidence is low, impacting spending.
Compounding Tariffs
- Existing tariffs from 2016, imposed by the Trump administration, remain in effect.
- These pre-existing tariffs compound the impact of new tariffs on certain goods.
Guangdong: Manufacturing Hub
- Helen-Ann Smith is reporting from Guangdong, China's most affluent province.
- Guangdong is a manufacturing hub, producing a vast quantity of the world's household appliances.