The U.S. is preparing new tariffs against all remaining Chinese imports if talks between Presidents Donald Trump and Xi Jinping fail. New tariffs against all goods from China might be announced in December. They would target the $257 billion in imports from China which are not already under tariff.
China is looking to reduce its car taxes from 10% to 5%.
A tax cut equal to 1 percent of GDP next year would be at least 827 billion yuan. China has already had 1.3 trillion yuan of tax reductions estimated by Beijing for this year.
China is offsetting the reduced exports from tariffs with tax cut economic stimulation and allowing the yuan to devalue. The yuan has devalued by about 10% since April.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.