MACRO --Tit-for-tat trade war up another gear

摘要

The US-China trade war escalated in mid-September, with President Trump unveiling a further US$200bn worth of tariffson Chinese goods, bringing the total value of tariffs imposed by the US to approximately US$250bn. China retaliated with$US60bn of tariffs in less than 24 hours after the US announcement, driving the trade war between the two countries upanother gear. As a result, the commodities market is expected to experience uncertainty and volatility in the comingmonths, compounded by softer China data and the continual appreciation of the US dollar against the Yuan heading intoOctober.