China had exports of 2.3 trillion dollars in 2016. 16.9% of which was to the US[1].
.5% of trillion is 5 billion. Let's just round down China's exports down to 2 trillion.
That means the US would be levying 10 billion dollars in tariffs on China during the first year alone and this would continue to increase for the next 4 decades?
How do you imagine China would react to that? Do you imagine a trade war would be good for the world economy?
This is the kind of nonsense that Trump was recently spewing during the US election season.
You know who's going to actually pay that tariff? The U.S.? They will pay for it in higher prices on goods and perhaps more importantly they will also pay for it in China financing 100s of billions dollars less of U.S debt in the coming decades. That might be the kick in the pants the US needs to get its deficit in order but before wreaking lots of havoc.
You realize that China is the United States second largest creditor right? Until very recently they were the United States largest creditor[2]. Yes China finances the United States by buying up U.S Treasuries.
