US-China Trade War Looms as Trump Returns to Presidency
Eurasia Group founder Ian Bremmer predicts an imminent trade war between the US and China.
"Trump's entourage, except for Elon Musk, is pushing for a decoupling of the economies," Bremmer told Yahoo Finance at the World Economic Forum in Davos.
Initial tariffs on imports from China were anticipated, but a Wall Street Journal report indicates a delayed implementation.
Bremmer distinguishes China from Mexico, Canada, and Europe, as Beijing is less likely to yield to US demands amid economic challenges.
"China's economy grew 5% last year, but it's heavily dependent on exports and has a weak property sector," Bremmer said.
The TikTok ban adds another layer of complexity to US-China relations.
"Trump's proposed TikTok expansion contradicts recent legislation and Supreme Court rulings," Bremmer noted.
Bremmer also warns of a "G-Zero" era where no power can effectively shape global agendas.
"Billionaires now do as they please, leaving others to bear the consequences," he said.