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American Rescue Plan: US stimulus seen widening trade deficit that sparked Trump’s trade war with China The US$1.9 trillion American Rescue Plan is poised to attract more Chinese imports. Photo: Reuters
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 Generale estimates it would pull in as much as US$40 billion in additional Chinese imports.
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