Fitch Ratings commenting about the shipping industry relative to the US-China trade spat
- Direct impact on shipping companies will also depend on exposure to Trans-Pacific trade
- Wider sector impact affecting shipping segments to result if US and China escalate retaliatory measures
- Some of the goods under proposed tariffs are likely to continue to be imported by both countries due to limited substitutes
- Key risk to shipping industry is if protectionist measures escalate into trade war
- That would damage prospects for global trade and affect GDP growth
Earlier in the day, Fitch also commented that the tariffs by the US will not have a significant effect on the Chinese economy.
