China Risks Losing $488 Billion In US Exports Without Trade Deal: 'Protectionism Doesn't Protect...'

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The lack of a trade agreement between the United States and China could lead to a significant drop in Chinese exports to the U.S., a new report suggests.

What Happened: The Observatory of Economic Complexity has projected that if the two countries fail to reach a trade agreement and the proposed higher tariffs on China are implemented, Chinese exports to the U.S. could reduce by $488 billion by 2027, reported CNBC.