Trump's Tariffs 'Bite' China As Trade With US Sees 'Substantial Contraction,' El-Erian Warns Of 'Significant Challenges' To Xi Jinping's Growth Plan

China chip shift

Economist Mohamed El-Erian warned of "significant challenges" for Xi Jinping's growth model after fresh data showed a sharp drop in US-China trade.

The analysis follows a CNBC report that Chinese exports to the U.S. plunged 33% in August year-over-year, a development El-Erian said shows U.S. tariffs have begun to “bite.”