Analysts at TD Securities note that at the designated 12.01am increased US tariffs on Chinese goods proceeded and the question is what China will do to retaliate, although comments so far appear conciliatory.
Key Quotes
“China has implemented tariffs on around $110bn of US exports to China, but China has a much smaller amount of US goods that they can target. China could reintroduce additional tariffs on US autos and auto parts, which were due to go into effect on Apr 1 but were suspended. Agriculture could be a focus, eg freeze purchases of soybeans after they carried out a goodwill purchase of 1.5mn tons.”
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