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A Cautious Détente

The US-China trade dispute has been one of the most significant sources of policy-related volatility in markets so far in 2018. However, recent bilateral diplomacy points to a broader rapprochement that has generated some market optimism that the threat of tariffs could be removed, delayed, or minimized for the remainder of the year, at least. We are more cautious about the détente that has emerged, and think there is still considerable potential for headline risks, as well as actual tariff implementation, to return in the coming months.

Posted May 22, 2018
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