Risk of complete fall-out of US-China talks: Moody's
The US on Friday more than doubled tariffs on $200 billion worth of Chinese products from 10 per cent to 25 per cent, in a sharp escalation of the trade tensions to which China has said that it would respond with necessary countermeasures.
For China in particular, the higher tariffs will have a significant negative effect on exports, against the backdrop of a slowing economy. Reuters