Rising U.S.-China trade tensions rattled global markets this week, and prompted one major wealth manager to make a shift in its U.S. portfolios
in a bid to reduce risk exposure.
The U.S. early Friday followed through on a threat to raise tariffs on $200 billion of Chinese imports to 25% from 10%, while President Donald Trump has threatened to extend levies to all Chinese imports. Beijing has vowed to retaliate. Meanwhile, talks between U.S. and Chinese negotiators were set to proceed.The yield on the benchmark 10-year U.S. Treasury TMUBMUSD10Y, -0.
“We believe China may have overestimated the U.S. desire for a swift deal, and is eager to repair the process. If so, any retaliation from China would likely be moderate,” he said.
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