“We expect tariffs targeting the remaining $300bn of US imports from China to go into effect,” the bank said in a note sent to clients. U.S. President Donald Trump announced on Aug. 1 that he would impose a 10% tariff on a final $300 billion worth of Chinese imports on Sept. 1, prompting China to halt purchases of U.S. agricultural products. China denies that it has manipulated the yuan for competitive gain.
Posts from the same category:
- Trump’s former economic adviser admits his tariffs are hurting US and helping China
- Emirates announces order for 50 Airbus A350s worth $16B
- China's Tencent sorry for saying typhoon killed 'nearly everyone'
- Hong Kong police break up scattered clashes between rival protesters
- Trump takes back seat as China bristles over Hong Kong unrest