The rating agency said specifically, the US severely intensified its tariff measures on Chinese imports over the summer by raising the existing tariff rate on (roughly) US$250bil of goods to 30% from 25% (effective from the start of October) and introducing a new 15% tariff on the remaining (roughly) US$300bil of Chinese imports (to be fully phased in by December).
KUALA LUMPUR: The global economic outlook is becoming darker, Fitch Ratings warns as the US-China trade war gets worse and also due to significant risks of a “no-deal” Brexit stance as waged by British Prime Minister Boris Johnson.
In the update of its global economic outlook (GEO) forecasts, Fitch warned of the trade policy disruptions, especially in the recent sharp escalation in the US-China trade war.
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