• Talks between the United States and China over trade have taken an unexpected turn for the worst side in recent days due to the reason that China had taken a hard-line stance over the discussion. After that, the President Trump will impose new tariffs in Chinese goods of USD 200 billion, from 10% to 25%. These tariffs will be enacted tomorrow. On the other hand, the Chinese team with Vice Premier Liu will arrive in US today. If talks fail, it means that future talks will be more difficult (tariffs in this scenario active).

• US to exempt Chinese goods in transit from potential tariff increase allowing window of 2-4 weeks to settle negotiations (FT)

• Today CPI in China was better than expected, up 2.5% in April from 2.3% as expected.

 

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Christos Nikolaou

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