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Goldman Sachs warns Trump's proposed tariffs on China could hurt US profits, spark a trade war.
Goldman Sachs warns that Trump's proposed tariffs on Chinese goods could harm US profits in three ways: raising costs for US industries reliant on Chinese intermediate goods, exposing US exporters to retaliatory tariffs from China, and risking China's restriction on critical raw materials.
This could disrupt supply chains and potentially trigger a new trade war, affecting sectors like auto, electronics, and agriculture.
Experts also suggest the tariffs might strengthen China's ties with other US allies.
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