A deal to end the US-China trade dispute appears further away than ever. We now expect all US goods imports from China to be subject to a 25% tariff by early next year. China is likely to respond with largely symbolic tariff increases of its own. More substantively, it will loosen monetary policy further and allow the renminbi to weaken by close to a further 10%.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.