The US President Trump’s tit-for-tat action has escalated the US-China trade war, with further trade risks looming, analysts at ING Bank explain.
Key Quotes:
“The US-China trade tensions move up a notch with China announcing new tariffs on $75 billion of US goods and the latter retaliating with a hike in the existing and proposed new tariff rates by 5%.
The next event risk seems to be President Trump invoking emergency trade powers banning US companies from doing business in China.”
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