Lates News

On August 11th, local time, President Trump of the United States has signed an executive order to extend the suspension of tariffs on China for another 90 days. Song Yu, Chief Economist for BlackRock in China, told reporters regarding the tariff extension that he believes the impact of the second extension is different from the first, with a 90+90>180 effect. Song Yu's logic is that the first extension had a strong "temporary" implication, while the second extension will have a greater impact on expectations for bilateral relations over a longer period of time. For the market, this means that the negative geopolitical impact has decreased, and the probability of economic growth falling short of targets this year has significantly decreased.