Markets braced for volatility as Trump pressures China

Deal will be far worse for China in my 2nd term, he says as China keeps cards close to its chest

US Treasury Secretary Steven Mnuchin(left) and Chinese Vice-Premier Liu He before their meeting at the Diaoyutai State Guesthouse in Beijing, on May 1, 2019.
US Treasury Secretary Steven Mnuchin(left) and Chinese Vice-Premier Liu He before their meeting at the Diaoyutai State Guesthouse in Beijing, on May 1, 2019.PHOTO: NYTIMES

Stock markets across the world are bracing themselves for volatility and economists calculating the cost to growth as United States President Donald Trump baited China over failed trade talks and the Asian giant refused to back down.

Meanwhile, US Trade Representative Robert Lighthizer is expected to announce details of enhanced tariffs on Chinese imports today, in what could signal a new phase in the trade war.

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A version of this article appeared in the print edition of The Straits Times on May 13, 2019, with the headline 'Markets braced for volatility as Trump pressures China'. Subscribe