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.