It’s always 1987 in Trump’s world A big new economic plan on the way: Former president Donald Trump is weighing options for a major new economic attack on China if reelected, considering plans that are widely viewed as likely to spark a global trade war. Publicly, the GOP front-runner has endorsed downgrading China’s trade status with the United States — a move that would lead tariffs between the world’s two largest economies to skyrocket. Revoking China’s status as a “most favored nation” for trade — which is applied to almost all countries the United States trades with — could lead to federal tariffs on Chinese imports of more than 40 percent, according to one analysis. Trump has floated imposing a 10 percent tariff on nearly all $3 trillion in annual imports from all countries, including China. Privately, Trump has discussed with advisers the possibility of imposing a flat 60 percent tariff on all Chinese imports, according to three people familiar with the matter who spoke on the condition of anonymity to relay private conversations. All these options would lead to enormous disruptions to the U.S. and global economies that would far surpass the impact of the trade wars of Trump’s first term, economists of both parties say. Although he often praised Xi Jinping as president and signed a 2020 trade deal with China, Trump now repeatedly bashes Beijing on the campaign trail and has promised a tougher stance than President Biden. Trump’s determination to ratchet up trade fights with Beijing reflects the…