US tariffs and China tensions hang over G20 meeting - Reuters
|According to reporting from Reuters, the US' recent trade tariffs and threats of further duties aimed at China will cast a pallor over the G20's finance meeting taking place in Europe this week.
Key highlights:
The looming threat of a trade war between the US and China and growing frustration within the Eurozone over Trump's steel and aluminum tariffs are expected to be key topics this week at the G20 meeting, and US Treasury Secretary Steven Mnuchin can expect to spend most of his time at the summit defending Trump's protectionist measures that threaten peaceful trading arrangements between trading partners and delivers a blow to the foundations of the World Trade Organization, an organization that Trump has been critical of in the past. Fears are growing that Trump's anti-China tariffs that seeks $60B in additional duties against Chinese-made goods will spark a full-on trade war with China, which could hamper global trade and suffocate global growth that has been slowly ramping up since the G20 first formed during the 2008 financial crisis.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.