There is no doubt that the US-China trade war will escalate.
What will China do after being labelled as a currency manipulator?
China may ban US oil imports and start to import more Iran oil. This will definitely irk the US and render US sanctions against Iran as ineffective. When China imports more Iran oil, it will disrupt the oil market because China will be cutting back oil purchases from other oil producers. This will cause oil prices to fall and impact the US shale oil industry.
China has more cards to play with the US and China has not announced its own tariffs yet.
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1 comment:
I wonder how the US stock markets will react when China bans rare earth exports to the US in this trade war.
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