Market Chatter: China's State Media Warns 'No Winners' in Tariff Wars

MT Newswires Live11-28 12:53

China's state media said there are "no winners in tariff wars" following US President-elect Donald Trump's vow of an additional 10% tariff on all Chinese goods, Reuters reported Wednesday.

Trump cited China's failure to curb the trafficking of drugs, including fentanyl, into the US for the additional tariffs.

"If the US continues to politicize economic and trade issues by weaponizing tariffs, it will leave no party unscathed," the news agency cited a China Daily editorial.

Economists expect the higher tariffs to impact China's economic growth and result in higher living costs for the US, according to the report. In a Reuters poll, economists expected additional US tariffs ranging from 15% to 60%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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