"via Scott Minerd, Global CIO of Guggenheim
During the course of the last two years, we have consistently indicated that the course for the U.S. economy, along with risk assets and rates, was contingent on the impact of any unexpected exogenous events, most likely from overseas. Of all the exogenous events that could possibly derail our long-term economic and market outlook, a full-blown trade war with China is closest to being realized. Just a few weeks ago, Washington and Beijing appeared to be close to an agreement. The subsequent breakdown in talks and tit-for-tat tariff escalations have put the world’s two largest economies on a collision course to a full-scale trade war. The United States has announced an increase in tariffs on $200 billion of consumer and other goods from 10 percent to 25 percent, with threats of further tariffs to come. China followed suit with its own schedule of increased tariffs on $60 billion of American-made products..."
at https://www.zerohedge.com/news/2019-06-07/us-china-trade-war-new-long-march
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