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Full-Blown Trade War Is Quickly Shifting From Risk to ‘Baseline’

  • Nomura’s new base case is full U.S. tariffs on China imports
  • JPMorgan sees current tariffs in place for the long haul
Bloomberg business news
Long-Term Story Is `China Vs. Everyone,' UBS Says
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After months of predicting a trade deal between the world’s two largest economies, economists at some of the biggest financial institutions are growing increasingly pessimistic.

Goldman Sachs Group Inc., Nomura Holdings Inc. and JPMorgan Chase and Co. are among those that have rewritten their forecasts as U.S. President Donald Trump threatens to impose a 25% tariffs on around $300 billion of additional Chinese imports.