American Rescue Plan: US stimulus seen widening trade deficit that sparked Trump’s trade war with China

Apr 11, 2021 | INVESTING

The US$1.9 trillion American Rescue Plan is poised to attract more Chinese imports, and analysts expect it to widen the United States’ contentious trade deficit with the world’s second-biggest economy.The stimulus will add about US$30 billion to US imports from China this year, estimates Derek Scissors, chief economist at China Beige Book International, a data-collection platform tracking the Chinese marketplace. And if all of the stimulus dollars were to be spent rather than saved, Societe…

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