China's retaliation followed just hours later:
China announces counter-tariffs against Trump's trade moveslevies of 15% for US coal and LNG, 10% for crude oil, farm equipment and some autosChina anti-monopoly regulator launches investigation into GoogleWSJ: Pres Trump and China Pres. Xi are not speaking today
I posted earlier on the GS analysis:
Goldman Sachs - China trade war retaliation measures to have a limited energy price impact"We believe near term implications to commodity markets will be limited given that neither global supply nor demand of these commodities are changed by China's tariffs," impacted U.S. volumes likely to find alternative buying markets easilyChina to replace impacted import volumes with alternative suppliersfor coal, GS expects US volumes to be redirected to Japan and Korea, which will likely release local Pacific basin supplies to go to China insteadChina crude oil imports from the US are small
Also, the above:
Financial Times: China’s exporters to step up offshoring to beat Trump’s tariffs This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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