Tariffs to Impact Millions of Chinese Workers in Blow to Economy
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As China staggers into a slowdown caused by Donald Trump’s trade war, a hobbled jobs market is impairing the resilience Beijing needs to battle it out against the US.
Trump’s 145% tariffs on China’s goods are threatening to obliterate its access to the world’s biggest economy, with Goldman Sachs Group Inc. estimating that up to 20 million people — or about 3% of the labor force — may be exposed to US-bound exports. A full economic divorce would roil a workforce already drained by widespread salary cuts and layoffs.