'A trade deal now looks far off,' analysts at Goldman Sachs said, amid rapidly intensifying tensions between the two economic giants.
Analysts at Goldman Sachs, led by Chief Economist Jan Hatzius, said in a research note published late Monday that they had anticipated this move.
"While we had previously assumed that President Trump would see making a deal as more advantageous to his 2020 re-election prospects, we are now less confident that this is his view," analysts at Goldman Sachs said.
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