The threat of a trade war between the U. S. and China grew more pronounced last week and there could be a winner from the fallout if tensions escalate, says one strategist.
The threat of a trade war between the U. S. and China grew more pronounced last week and there could be a winner from the fallout if tensions escalate, says one strategist.
„One of the bigger beneficiaries of that would be Germany — Germany and Europe broadly,“ Gina Sanchez, CEO of Chantico Global, told CNBC’s “ Trading Nation “ on Friday. „European trade with China has been on the rise for the past 10 years.“
China is the European Union’s second-largest export market, according to the European Commission. Exports to China rose at an annual average rate of around 4 percent from 2012 to 2016, while the value of total trade between the EU and China rose 98 percent.
Germany’s DAX was swept up in a global market sell-off last week as the possibility of a trade war between the world’s largest and second-largest economies grew. President Donald Trump made concrete plans on Thursday to slam around $60 billion worth of China-made goods with tariffs. China responded by announcing tariffs on roughly $3 billion worth of U.
