Tariffs likely to far outlast Trump

The precarious fiscal situation means the next administration will be in no rush to remove the tariffs that are in place at the end of President Trump’s term. Nonetheless, under most future scenarios, we would expect the next administration to be less likely to hit traditional US allies with additional tariffs and more likely to work with those allies to ratchet up the pressure on China to reduce its trade surplus. 

This report is part of our China Shock 2.0 series. Explore the latest publications on this dedicated page.