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JPM Warns of Possible Escalation in US-CN Trade War Given Ceasefire Threshold Too High
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There are currently no signs of easing in the US-China tariff war, and the trade conflict between these two major economies may further escalate, said JPMorgan. Haibin Zhu, JPMorgan's Chief China Economist, opined in a report on Tuesday that although investors hope for a truce agreement similar to the one announced by Mexico and Canada on Monday between the Donald Trump administration and China, the market will be disappointed as the threshold for a US-China ceasefire seems too high. Believing that the tariff trade war between the US and China may further intensify, Zhu noted that there is no rush to change the baseline assumption of a 60% tariff increase between the US and China. However, he added that there remains significant uncertainty regarding the timing, speed, and extent of further tariff increases. AAStocks Financial News |
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