US 'more likely than not' to double China tariffs when truce ends

The bottom line on President Trump’s trade truce with China is this, says Goldman Sachs: Once negotiators have finished their three months of talks, the U.S. is ‘more likely than not’ to double most of the tariffs imposed on its rival’s products this year.

In other words, the risk of further escalation in a trade dispute between the world’s two largest economies has been delayed rather than significantly reduced, and concerns that the conflict will hurt corporate profits while undermining the benefits of last year’s GOP-led tax cuts are likely to continue casting a pall over U.S. financial markets.