The unease that permeated markets on Tuesday reflects a sense among investors that the trade negotiations between the US and China aren’t going quite as smoothly as the Trump administration might have led them to believe.
US trade representative Robert Lighthizer and Treasury Secretary Steve Mnuchin. They may not get what they wished for.The reason the market’s bottom line might be different to Trump’s, and more particularly to advisers like his trade representative, Robert Lighthizer, or Treasury Secretary Steve Mnuchin, was well captured in an analysis of the impacts of a continuing trade war by Rhodium Group and the US Chamber of Commerce released in the US late last week.
Further, hardest hit by a continuation of the dispute would be those manufacturing sectors, like the information and communications technology sector, which rely on lower-cost parts shipped from China. The analysis said 49 per cent of imports from China are intermediate goods – semi-finished goods where the final stage of manufacturing occurs in the US by companies.
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