US President Donald Trump has been across Twitter and has said, “@CBS and their show, @60Minutes, are doing everything within their power, which is far less today than it was in the past, to defend China and the horrible Virus pandemic that was inflicted on the USA and the rest of the World. I guess they want to do business in China!”
This is the latest comment that will continue to stir the trade war sentiment, weighing on risk appetite. Markets are hoping Trump’s threats to penalise China for COVID-19 are pandering to Americans’ fear of China during an election year. In response to US talk of adding on more tariffs, stopping US pension money from investing in China and even stripping it of sovereign immunity, China has only offered verbal rejoinders so far. We are still not seeing a significant adverse reaction in the markets thus far.
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