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US-Chinese trade concerns have resurfaced as the Trump administration plans to implement new tariffs on USD200bn worth of Chinese products this week, notes the research team at Danske Bank.

Key Quotes

“China may reject new trade talks if more tariffs are imposed, according to a report posted yesterday in the Wall Street Journal.”

“The report quoted one senior Chinese official as saying that the country would not negotiate ‘with a gun pointed to its head’. The Trump administration seems to believe that the trade war is hurting China more than the US, giving the US the upper hand in the negotiations.”

“China has promised to retaliate to any US measures against China one-to-one, and China seems to be preparing itself for a long-lasting trade war by (among other things) easing economic policy. A deal between the US and China seems unlikely before the US mid-term elections in November.”

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