Goldman Sachs, a financial giant, is reported to have predicted that China will ease fiscal policy in response to US President Donald Trump’s introduction of new tariffs.
Reuters reported that the behemoth investment bank predicted Trump’s policies will reduce Chinese GDP by at least 0.7 percent points in 2025.
Goldman:
“Based on the changing situation, there are ample opportunities for adjusting monetary policies tools, such as reducing reserve requirements ratios and lowering interest rates, at any given time.”
Trump’s executive order last week imposed a 10% duty on imported goods that enter the US. The order included country-specific duties that resulted in a 54% cumulative tariff on Chinese imports.
China retaliated with tariffs. Trump responded by threatening to increase tariffs.
The United States is imposing ADDITIONAL tariffs of 50% on China, starting April 9, if China doesn’t withdraw their 34% rise above the longstanding trading abuses. All talks between the United States and China regarding their requests to meet with us are also terminated !”
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This report by Goldman Sachs forecasts China easing monetary policy to combat President Trump’s tariffs. It appeared first on the ICD.
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