US economists at Bank of America Merrill Lynch warn there is a “heightened risk of recession.”They updated their recession outlook after the recent escalation of the US-China trade war and the ensuing market volatility. Source: ‘We are worried’: Bank of America lays out the latest warning signs that a recession...
Trump’s trade war has led to a historically weak Chinese currency — and a new study shows that impact could spread globally
Global currencies have become a front-and-center issue in the US-China trade war.The yuan slid nearly 4% versus the US dollar in August, its largest monthly decline in decades.That weakness could spread to other emerging-market currencies, according to a study by Institute of International Finance. Source: Trump’s trade war has led...
White House backtracks after Trump said he had ‘second thoughts’ about escalating the China trade war, saying he regrets ‘not raising the tariffs higher’
Trump told reporters at a Sunday morning breakfast with UK Prime Minister Boris Johnson in Biarritz, France, that he has ‘second thoughts about everything,’ including his recent escalation of the US trade war with China.His soundbite apparently contradicted his administration’s official stance on the increased tariffs placed on China, because White House press secretary Stephanie Grisham...
China announces a plan to roll back trade-war tariffs — but one expert warns it may be ‘more of the same kind of pump we see almost daily’
China’s Commerce Ministry spokesman, Gao Feng, said the US and China had agreed to roll back tariffs in phases as trade talks progressed.While the announcement signaled progress, Neil Wilson at Markets.com called it “more of the same kind of pump we see almost daily.” Still, US futures rallied on the...