The trade war is now official after US tariffs on Chinese goods became effective this morning and China swiftly enacted its proposed levies on US goods in a much-expected retaliation move, according to analysts at Danske Bank.
Key Quotes
“Market focus is now on possible next steps. Notably, US President Trump overnight flagged the possibility of extending import taxes on as much as USD500bn worth of goods, which would amount to almost all US imports from China as of last year.”
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