In the summer of 2018, when former President Donald Trump launched a trade war with Beijing, the Chinese economy was gaining on the United States, and popular opinion suggested it could soon become the world’s largest.

The United States, with Donald Trump assuming the role of President, may impose tariffs of nearly 40% on imports from China next year, according to a recent poll of economists by Reuters.

Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.

After the resounding victory of Donald Trump in US presidential elections, once he takes over the president’s office in January, the first and foremost thing he is likely to do is to impose tariffs on Chinese imports,