US-China Trade War Global Impact

(3 February 2020) Last Wednesday (15 January), China and the United States signed 'phase one' of their bilateral trade deal to halt an immediate further escalation in tariffs by either country. Phase 1 does nothing to relax the tariffs imposed over the last couple of years to the detriment of global growth. By the end of 2019, the US and China had imposed 20 percent import tariffs on more than 60 percent of bilateral merchandise trade turnover, a reduction of global GDP growth in 2019 by an...