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Protectionist fears flood markets as risk appetite plummets
Risk appetite has plummeted as fears over protectionism and a trade war between the world’s two largest economies have taken hold. Yesterday, Donald Trump signed a memorandum on potentially $60bn of trade tariffs on China . China’s response was “China is not afraid of and will not recoil from a trade war”, according to the China embassy in Washington. Although China has only announced around $3bn of tariffs on US goods, so far, these are not the words of a nation willing to stand aside and let this happen quietly. It may be that quite how China deals with this situation in the coming days will determine the ... (full story)