Tariffs between the US and China will probably come down by half in the coming weeks, says Moody’s, as the economic fallout from the trade war intensifies for both sides.
“[The] pain is becoming apparent,” said Harry Murphy Cruise, head of China and Australia economics for Moody’s Analytics in Canberra.
Cruise said the weekend talks are “more of a stop-gap measure to take tariffs from silly levels” and he expected more “substantive” negotiations over the next couple of months.
Details of the weekend negotiations will be announced at 9am in Geneva on Monday. Markets will be looking for “concrete steps” from the talks, said Cruise.
About The Author
