The US-China trade tensions move up a notch - ING

The US President Trump’s tit-for-tat action has escalated the US-China trade war, with further trade risks looming, analysts at ING Bank explain. 

Key Quotes:

“The US-China trade tensions move up a notch with China announcing new tariffs on $75 billion of US goods and the latter retaliating with a hike in the existing and proposed new tariff rates by 5%.

The next event risk seems to be President Trump invoking emergency trade powers banning US companies from doing business in China.”