Monday, 14 Sep 2009
US-China the Beginning a Minor Tariff War
Markets opened lower on Monday as investors worried about the U.S.-China trade dispute and reflected on the one-year anniversary of the Lehman Brothers collapse. The tariffs came on the heels of a union complaint that a surge of imports of the Chinese tires were taking away American jobs.
UBS Financial Services says “It is a bad move and it is the beginning of a minor tariff war, On the other side of it, some people think it’s really an attention getter. A shot across the bow to get the Chinese to sit down for a broader trade talks and to see if they can work out some possible deal."
Additionally, the markets were also affected by Japan indicating that things "aren’t going as swimmingly” with the new government.
AP
