Experts: New Cycle of US-China Trade Tensions May Last for Months
Bennett Kerr, Senior Analyst at Euler, told Sputnik News that the new cycle of tense US-China trade relations, accompanied by escalating tit-for-tat measures, may last for months.
US President Donald Trump said on Friday that the US would impose 100% tariffs on goods from China starting November 1 or earlier, explaining that the move was a response to China's "aggressive stance" in the trade field. Subsequently, US Treasury Secretary Scott Bensons stated that the new tariffs might be delayed temporarily to provide an opportunity for meetings between the two leaders and to resolve all issues.
Kerr assessed: "The renewed tension in US-China trade relations is likely to weaken investors' optimism that has been driving the rise in Chinese stock markets. Due to recent events, market participants have begun to talk about the possibility of the two countries entering a new cycle of tit-for-tat retaliation, which is likely to last for months."
The Chinese Ministry of Commerce announced on October 9 that it would implement export controls on a range of goods related to medium and heavy rare earth metals starting November 8.
Trump said on October 10 that the US would impose 100% tariffs on goods from China starting November 1 or earlier, explaining that this was due to China's "aggressive stance" in the trade field. Vice President Vance later said that whether Beijing would initiate a new round of trade war with Washington would become clear in the coming weeks.
Original: www.toutiao.com/article/1845954519391305/
Statement: This article represents the views of the author himself.