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U.S.-China Trade War Escalation Sparks Recession Fears

Credit: Wochit
Published on May 13, 2019 - Duration: 00:45s

U.S.-China Trade War Escalation Sparks Recession Fears

According to Reuters, Global equities fell on Monday after their worst week of 2019 as hopes of an imminent U.S.-China trade deal were crushed, raising fears of a fresh round of tit-for-tat tariffs.

The impasse left investors bracing for retaliation by China for Washington’s increase on Friday of tariffs on $200 billion worth of Chinese goods.

The move followed accusations by U.S. President Donald Trump that Beijing had reneged on earlier commitments.

Escalation could tip the U.S.

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