Goldman Sachs cuts China economic growth forecast due to tariffs

Goldman Sachs cut its economic growth forecast for China for this year and next, citing the negative impact of tariffs.

The US bank expects China's GDP to grow by 4% this year, down from a previous forecast of 4.5%, and has revised its growth outlook for next year to 3.5%, down from 4%.

This comes amid the escalating trade war between Washington and Beijing, following US President Donald Trump's decision to increase tariffs on Chinese imports to 125%, while Beijing imposes an 84% tariff on US imports starting today, April 10.