Markets Insights

Markets brace themselves for more trade-related woes

Tit-for-tat tariffs by US, China loom but talks may ease tensions

A branch of Turkiye Is Bankasi, Turkey's largest bank, in Istanbul. Markets are emerging from a week dominated by Turkey's spat with the United States, with the falling Turkish lira having an alarming effect on emerging market currencies However, mor
A branch of Turkiye Is Bankasi, Turkey's largest bank, in Istanbul. Markets are emerging from a week dominated by Turkey's spat with the United States, with the falling Turkish lira having an alarming effect on emerging market currencies However, more trade-linked trouble awaits, as the US prepares to slap tariffs on more Chinese goods. PHOTO: BLOOMBERG
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Emerging from a week dominated by Turkey's spat with the United States, markets are bracing themselves for more trade-related trouble ahead as the Trump administration prepares to slap a 25 per cent tariff on another US$16 billion (S$22 billion) of Chinese goods on Wednesday.

As with the first round last month, Beijing plans to retaliate immediately with an equal tariff on US$16 billion of US goods entering China.

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A version of this article appeared in the print edition of The Straits Times on August 20, 2018, with the headline Markets brace themselves for more trade-related woes. Subscribe