Trade war goes down darker path, global recession risks higher at 50%

The trade war has escalated beyond expectations and the stakes are high for the global economy. The global recession odds for the next 12 to 18 months have increased to 50%, Moody's Analytics warns.

KUALA LUMPUR: The odds for a global recession for the next 12 to 18 months has increased from 40% to 50% as the US-China trade war has gone down a darker path, Moody's Analytics warns.

It said on Thursday the Trump administration plans to introduce a 10% tariff on the remaining US$300bil in Chinese goods imports starting Sept 1.