Trump's extra 10% tariffs on China came into effect on Teusday, February 4.
China's retaliation followed just hours later:
- China announces counter-tariffs against Trump's trade moves
- levies of 15% for US coal and LNG, 10% for crude oil, farm equipment and some autos
- China anti-monopoly regulator launches investigation into Google
As yet, there is no sign of a conversation taking place:
I posted earlier on the GS analysis:
Adding a little more now:
- "We believe near term implications to commodity markets will be limited given that neither global supply nor demand of these commodities are changed by China's tariffs,"
- impacted U.S. volumes likely to find alternative buying markets easily
- China to replace impacted import volumes with alternative suppliers
- for coal, GS expects US volumes to be redirected to Japan and Korea, which will likely release local Pacific basin supplies to go to China instead
- China crude oil imports from the US are small
Also, the above:
