In December, Trump selected Peter Navarro, author of "Death by China: Confronting the Dragon," to head the National Trade Council, a new White House office. "Navarro has made a career out of attacking China. And Trump's going to obviously listen to him, at least publicly. And that can cause strife for a while," Rogers said.
In September 2016, Navarro co-authored a campaign white paper with Wilbur Ross, nominee for U.S. Commerce Secretary. In it, they wrote that China's 2001 WTO inclusion "opened America's markets to a flood of illegally subsidized Chinese imports, thereby creating massive and chronic trade deficits. China's accession to the WTO also rapidly accelerated the offshoring of America's factories. … China is hardly the only cheater in the world; it's just the biggest."
In an attempt to improve U.S. business competitiveness on the global stage, Trump has spoken of a 45 percent tariff on Chinese imports.
"If he does that, you better sell everything you have, because it will cause very, very serious problems," Rogers said. "When you have trade wars, you have economic upheaval, turmoil, recessions [and] bankruptcy."
Through the first 10 months of 2016, the United States exported $92 billion worth of goods to China and imported $381 billion worth.
Because of this risk, Rogers said, "the U.S. dollar is going to continue going up against nearly every currency in the world."