Some comments by Moody's on the impact of US tariffs towards the Chinese economy
- But broad-ranging measures could pose greater challenges
- Measures by US administration to have limited effect on China's economy
- But assessment would change if US also introduces broad-ranging protectionist measures
- If such measures are introduced, would have negative impact on Chinese economic growth
- Currently assumes that any US action would be consistent with WTO agreements
- That would imply broad architecture of US-China trade relationship would remain intact
- Asia is exposed to unfavourable shifts in US trade policy because of its volume of direct exports to the US
- Series of wide-ranging protectionist trade policy decisions by US would negatively affect credit profiles of Asian sovereigns, manufacturers
An assessment made by Moody's on the US tariffs so far. In essence, the metal tariffs is an ant bite to China but how much of the impact that is to come from the reported $50 billion that is to be announced remains to be seen.
Trump is reported to announce said tariffs around 0430 GMT later today.
