A computer screen shows images of US President Donald Trump and Chinese President Xi Jinping as a currency trader works in South Korea. Photo: AP

US needs a trade war deal more than China does heading into 2020, says MUFG economist

  • US President Donald Trump faces growing pressure of a possible economic slowdown while seeking re-election
  • Trump ‘doesn't want a S&P 500 correction of 10 per cent in the middle of a re-election campaign’, says Derek Halpenny of Mitsubishi UFJ Financial Group
Topic |   US-China trade war

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A computer screen shows images of US President Donald Trump and Chinese President Xi Jinping as a currency trader works in South Korea. Photo: AP
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The new 30 per cent tariff rate on US$250 billion worth of imports from China, from the existing 25 per cent rate, has been moved from October 1 to October 15 in recognition of the 70th anniversary of the founding of the People’s Republic of China, which falls on the earlier date, Trump said in a Twitter post. Photo: Handout

Donald Trump delays US tariff rate increase to avoid escalating trade tension on China’s National Day

  • Rise in tariff rate on US$250 billion worth of Chinese imports to 30 per cent moved from October 1 to October 15
  • Delay comes the day after China exempted 16 types of US products, including medications, from import tariffs
Topic |   US-China trade war

TOP PICKS

The new 30 per cent tariff rate on US$250 billion worth of imports from China, from the existing 25 per cent rate, has been moved from October 1 to October 15 in recognition of the 70th anniversary of the founding of the People’s Republic of China, which falls on the earlier date, Trump said in a Twitter post. Photo: Handout
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