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US-China trade conflict has a large potential effect – ABN AMRO

According to Han de Jong, chief economist at ABN AMRO, the ongoing trade conflict has a large potential effect on the global economy and a further escalation and renewed US measures against Europe would be very damaging.

Key Quotes

“The uncertainty over the prospects will dampen business confidence and investment. On the other hand, it is possible that the US and China resolve their conflict and that the US administration does not take further measures against other trade partners.”

“Clearly, in any economic forecast, this is a big unknown. We are assuming that the US will increase import tariffs on Chinese goods to 25% and apply it on all Chinese products.”

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