Donald Trump’s trade war against China swung into effect today, with US levies on $34bn’s worth of Chinese exports coming into effect at 12.01 US Eastern Time on Friday. China has pledged to retaliate in kind.
A trade war has been the “dominant macro concern for investors in 2018”, according to last month’s survey of 184 fund managers from Bank of America Merrill Lynch. 31% of them said it was their top risk.
