- | Economists warned that dispute over trade war would hurt economic growth|
- | The U.S. and China unlikely to reach a deal after almost a year of negotiations|
| Trade War Deepens |
Global stock fell and Yuan is at its lowest since December. The Shanghai Composite index fell +1%, Japan’s Nikkei 225 index lost -0.6% and the S&P ASX 200 declined -0.2%. South Korea’s Kospi fell -1.1% while Hong Kong’s markets were closed for a holiday. Shares fell in Taiwan and most of Southeast Asia.
Trump ordered to expand +25% tariffs to another $300B worth of Chinese goods, all remaining imports from China. In effect, China said it would impose higher tariffs on a range of U.S. goods and plans to set import tariffs ranging from +5% to +25% on a list worth about $60 billion.
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May 14, 2019 9:14 am