Trade war ‘likely to get worse’

The burgeoning trade war between China and the US is ‘likely to get worse before it gets better’, according to Investsmart’s Evan Lucas. America is poised to impose a 15 per cent tariff on a raft of Chinese imports on Sunday, including popular consumer goods like televisions and smartphones. The move is part of President Trump’s plan to impose $300 billion worth of tariffs on Chinese goods by the end of 2019, with Beijing vowing to retaliate by imposing its own tariffs against US goods. Mr Lucas told Sky News markets need to brace for the "likelihood" that a tit-for-tat trade war will continue for the rest of the year.

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