Trump is committed to tariffs. If he were levying tariffs on only China, that would be bad enough as China is one of the tech manufacturing centers of the world. But, Trump is not going after only China. He has implemented tariffs on products imported from nations that have long been friendly, such as Canada,
China has the world’s largest debt at $40 trillion from 30 years of deficit financing its industrial growth. According to some analysts, China’s banks cannot withstand a downturn because it would expose trillions of dollars in bad debt. Now China is being prompted (Wall Street Journal) to return to stimulative policies because of slowing rates
It is not decided whether the housing industry is a coincident indicator of economic activity or a leading indicator. Yet when the housing industry slows, it is not a good sign.