Hopes of trade deal fast fading as US, China dig in their heels

A trader at the New York Stock Exchange reacting on Monday as the Dow Jones plunged. The chances of a trade deal being reached before the US election next year look slim, said one analyst.
A trader at the New York Stock Exchange reacting on Monday as the Dow Jones plunged. The chances of a trade deal being reached before the US election next year look slim, said one analyst.PHOTO: ASSOCIATED PRESS

Little sign either side will budge, analysts say, with potential for compromise over

Labelling China a currency manipulator, as the United States Treasury did on Monday, has few immediate consequences but can serve as rationale to take harsher measures , analysts say.

The designation was the latest in a flurry of moves in five days that has deepened the US-China trade war.

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A version of this article appeared in the print edition of The Straits Times on August 07, 2019, with the headline 'Hopes of trade deal fast fading as US, China dig in their heels'. Print Edition | Subscribe