Trump Threatens 100% Tariff on Countries Dropping the Dollar. Here's Why One Economist Says That's a 'Lose-Lose' Scenario

Republican candidate Donald Trump proposed a 100% tariff on countries abandoning the U.S. dollar. Hao Hong, chief economist and partner at GROW Investment Group said this could create a "lose-lose" situation for both the U.S. and China. Hong warned that a 100% tariff on Chinese exports could significantly raise U.S. inflation and shift the country's trade deficit to allies like Mexico and Canada. Earlier this year, Donald Trump proposed a 60% tariff on Chinese imports and a 10% tariff on all U.S. imports if re-elected. Other economists warned that these tariffs would "most assuredly" boost US inflation while lowering China's GDP.