Chinese exports reached a record high in 2024, bringing into question President-elect Donald Trump's proposed 60% tariffs on Chinese imports.
Heidi Crebo-Rediker, Council on Foreign Relations senior fellow and former chief economist at the US State Department, joins Catalysts to discuss Trump's proposed tariff policy.
Crebo-Rediker observes that President-elect Trump is "obsessed" with tariffs, adding, "We'll most likely see some kind of action [on] day one." She notes that China's newly reported record trade surplus could influence what action "he does decide to bring day one."
She explains within the Trump administration, "I think you have some voices that are underscoring the importance of tariffs as a protection against sort of traditional trade threats," citing concerns about overcapacity and national security. However, she adds, "I think you have people talking about using tariffs ... as a revenue raiser."
Regardless of which tariffs are implemented, Crebo-Rediker warns it will be "a very bumpy road."
Related Videos
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Angel Smith