WASHINGTON — White House officials moved quickly on Wednesday to calm
fears of a potential trade war with China, saying the administration's proposed tariffs were a «threat» that would ultimately help, not hurt, the United States economy, hours after China said it would punish American products with similar levies.
White House officials moved quickly to calm fears
of a potential trade war with China, saying the administration's proposed tariffs were a «threat» that would ultimately help, not hurt, the United States economy, hours after China said it would punish American products with similar levies.
Markets have been on edge in recent sessions amid
concerns of a potential trade war between China and the U.S.. On Wednesday, China announced fresh tariffs on 106 U.S. products, including cars, whiskey and soybeans — less than 24 hours after the U.S. administration issued a list of Chinese imports that it would target.
Financial markets plunged on fears
of a potential trade war between the world's two largest economies, with the Standard & Poor's 500 - stock index dropping by 2.5 percent.
While reports on the potential for high - profile tariffs continue to attract headlines and move markets at times, we believe that investors who are concerned about the impact
of a potential trade war on global economic growth should remain focused on developments in the world's largest economies and pay particular attention to tariffs targeting non-agricultural (mainly manufactured) goods.
Meanwhile, fears
of a potential trade war breaking out following recent moves from the U.S. that would implement tariffs on up to $ 60 billion worth of Chinese imports have also not alleviated the situation.
Investors are concerned about the negative
implications of a potential trade war, the effect of privacy breaches at social media companies, and the magnitude of Federal Reserve (Fed) rate increases in 2018.
But markets have been roiled in recent weeks by concerns over tighter monetary policy,
talk of a potential trade war and a sell - off in technology stocks.
Markets have been unsettled by fears
of a potential trade war, but there could be buying opportunities in store.
Trade partners, namely the European Union, Brazil and Turkey, have promised to retaliate if such tariffs are put forward, raising fears
of a potential trade war.
The move was condemned by world leaders and sent global markets tumbling amid fears
of a potential trade war.
European equities finished Tuesday's session slightly higher, as investors appeared to shrug off concerns
of a potential trade war and uncertainty following Italy's election result.
Meanwhile, recent fears
of a potential trade war have not helped to stabilize markets, Bate added.
The move came in retaliation to the Trump administration's decision to implement tariffs on aluminum and steel tariffs and stirred fears
of a potential trade war.
President Trump announced tariffs on steel (25 %) and aluminum (10 %), and engaged in trade rhetoric sparking fears
of a potential trade war.