US media: US trade war with China has begun to "out of control"
- Author:Josie
- Source:Search network
- Release Date:2019-08-08
The US media said that the recent US government's move to list China as a "currency manipulator" has further escalated trade tensions. US President Trump’s trade war with China has begun to get out of control, which will lead to a slowdown in the economy and even a recession.
According to CNN's August 6 report, on August 5, investors around the world were frightened. The Dow Jones index plunged 767 points, or 2.9%; Nasdaq fell 3.5%. Trump's biggest one-day drop since he was elected president in 2016.
US media: US trade war with China has begun to "out of control"
▲ US cable news network report screenshot
Peter Bukwar, chief investment officer of the Blixley Consulting Group, wrote in a report to clients on August 5: "Our trade situation is deteriorating."
David Kotok, co-founder and chief investment officer at Cumberland Consulting, said the ongoing stupid tariff war is increasing the risk of a recession and the situation is escalating.
"The upgrade of the US-China trade war will certainly be detrimental to the US economy," said Att Hogan, chief market strategist at the National Securities Corporation. "The worse the trade war, the faster the US recession will be."
The report pointed out that the American Chamber of Commerce warned that the new tariff imposed by the United States on China would only cause greater suffering to American companies, farmers, workers and consumers, and undermine the already strong US economy.
Recently, the Fed cut interest rates for the first time in 10 years. Michael Wilson, chief US equity strategist at Morgan Stanley, wrote in a report to clients that the trade war and the Fed’s movements have put the market at a “significant adverse impact that cannot be ignored due to deteriorating fundamentals”.
According to CNN's August 6 report, on August 5, investors around the world were frightened. The Dow Jones index plunged 767 points, or 2.9%; Nasdaq fell 3.5%. Trump's biggest one-day drop since he was elected president in 2016.
US media: US trade war with China has begun to "out of control"
▲ US cable news network report screenshot
Peter Bukwar, chief investment officer of the Blixley Consulting Group, wrote in a report to clients on August 5: "Our trade situation is deteriorating."
David Kotok, co-founder and chief investment officer at Cumberland Consulting, said the ongoing stupid tariff war is increasing the risk of a recession and the situation is escalating.
"The upgrade of the US-China trade war will certainly be detrimental to the US economy," said Att Hogan, chief market strategist at the National Securities Corporation. "The worse the trade war, the faster the US recession will be."
The report pointed out that the American Chamber of Commerce warned that the new tariff imposed by the United States on China would only cause greater suffering to American companies, farmers, workers and consumers, and undermine the already strong US economy.
Recently, the Fed cut interest rates for the first time in 10 years. Michael Wilson, chief US equity strategist at Morgan Stanley, wrote in a report to clients that the trade war and the Fed’s movements have put the market at a “significant adverse impact that cannot be ignored due to deteriorating fundamentals”.