📝If Implemented, China Tariffs Would Surpass 'Liberation Day': ING

Will President Trump follow through on his threat to impose more 100% tariffs on China, ahead of his one-to-one with President Xi at the end of the month? Most investors would say no, I imagine. Certainly, if he did, it would take the US average tariff rate up to 31%, if my maths is right, surpassing the levels seen around 'Liberation Day'. Back then, it was quickly evident that those sorts of levels were unsustainable. - ING