Asian shares slide to six-week low amid worry about tariffs
Investors are waiting to see if China can salvage a trade deal with the US after new threats from President Donald Trump
Sydney — Asian shares fell to six-week lows on Thursday as tensions rose ahead of last-ditch US-China trade talks that could sharply alter the direction of the global economy. Investors were on tenterhooks as they waited to see if Chinese vice premier Liu He can salvage a trade deal during two days of negotiations in Washington on Thursday and Friday, after US officials said Beijing had backtracked on earlier commitments. An agreement could avert a sharp increase in US tariffs on Chinese goods that President Donald Trump has threatened to impose on Friday, which Beijing has threatened to retaliate against in what would be major escalations in the countries’ bruising trade war. “If Trump’s threat becomes reality, it will be a game changer for the global economy. This is the worst-case scenario we modelled last year that resulted in recession conditions in the United States, a rapid reduction of growth in China, and slower global trade,” said Steve Cochrane, chief Asia-Pacific economi...
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