Navarro says China vacuumed up all of the world's PPE – Bloomberg
White House trade adviser Peter Navarro says tens of thousands of jobs will be created by seafood order.
Key comments
Says China vacuumed up all of the world's PPE.
The headlines follow recent comments whereby Navarro said that the Chinese Communist Party’s lies about the spread of the coronavirus overshadow the trade deal between Beijing and Washington. Navarro said Americans need to understand that “China lied, people died.”
There is this bigger issue that China spawned the virus and they hid the virus for about six weeks, which allowed that virus to escape Wuhan and infect the world, and then during that time, China hoarded an enormous amount of personal protective gear.
Market implications
Trade war sentiment is a building theme, surprisingly not dominating the front news of financial market media nor fully impacting risk sentiment, yet. Markets are more inclined to ride the positive themes emanating from nations attempting to go back to work.
However, that is where the risks are most severe considering how stealthy this virus and should the easing of measures cause a wave of fresh cases, sending the death toll higher, markets will have no choice but to concede. More on trade wars and COVID-19 impacts here:
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
