Analysts at Rabobank point out that today we see the start of talks about talks about trade between the US and China even as another USD16bn in 25% tariffs kick in.
Key Quotes
“Expectations are extremely low, and rightly so. Both sides see themselves as the victim. Both see themselves as stronger. Neither are able to lose face. For now it’s only Chinese markets pricing for that problem, but one press article today quotes a US executive saying that if things drag on to November, supply chains will start to shift back to the US.”
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