The U.S.-China trade war is snowballing toward worst-case scenario
Share to twitterChinese Vice Premier Liu He, right, gestures as U.S. Treasury Secretary Steven Mnuchin, center, chats with his Trade Representative Robert Lighthizer, left, before they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing. President Donald Trump turned up the pressure on China on Sunday, May 5, threatening to hike tariffs on $200 billion worth of Chinese goods.There is a good reason Wall Street is on edge these days: the U.S.
"While the currency manipulator designation is unlikely to have a material impact on China's foreign exchange policy, we expect that the positions of both countries on the trade dispute will harden," Moody's adds."More broadly, worsening trade and currency tensions between the US and China will curb global growth."
Having devised three likely outcomes from recent trade tensions and negotiations , Moody's believes"the latest development makes the hardened stance scenario more likely to materialize.
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