Global Perspectives: Where Will US-China Trade Friction Lead?

Foreign Exchange - Global Perspectives
Where Will US-China Trade Friction Lead?
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New tariffs between the U.S. and China were announced this week. It seems that U.S. strategy is to continue to increase tariffs until China agrees to our terms. China has fired back with $60 billion of new tariffs of its own on U.S. goods.
But, as investors know, no trade war ends without unintended consequences.
Interestingly, Chinese Premier Li Keqiang has vowed that China won't weaponize its currency, meaning that the country will not deliberately weaken its currency to help its exporters. That being said, the Chinese Yuan (CNY) has already weakened by almost 10 percent this year. As the CNY is a quasi-fixed currency, understandably some observers may be skeptical about Li's commitment.
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