Here we go again
Resumption of US-China trade hostilities could give the Transpacific peak season a fillip.
The recent cessation of trade hostilities between the US and China barely lasted a month. Predictably, the truce that was agreed during the G20 meeting in Japan at the end of June was ended via Twitter when US President Donald Trump announced on 1 August that a new tariff of 10% will be imposed on another $300 million of Chinese goods, effective 1 September.
Latter remarks indicated that the rate could rise to at least match the 25% duties placed on the remaining $250bn of Chinese goods already subjected to extra tariffs.