Investment bank Goldman Sachs issued a report that Sino-US trade disputes escalated. It is expected that the United States will impose a 10% tariff on the remaining US$300 billion of Chinese imports. The RMB will fall below 7 in three months, see 7.05, and forecast for 6 months. And after 1 year, they are 6.95 and 6.8 respectively.

Goldman Sachs analyst Danny Suwanapruti’s team believes that the United States will impose a 10% tariff on the remaining Chinese imports by the end of July. As the Sino-US trade war has slowed US economic growth and the risk of US interest rate cuts is increasing, it is believed that after the US and China finally reach a trade agreement, the United States may withdraw tariffs at the end of this year or early next year.

Goldman Sachs believes that China will not use currency depreciation to offset the impact of tariffs, but adopt a depreciation of the exchange rate, more stimulus measures to stimulate domestic demand, and allow economic growth to slow down a number of ways, and the sharp depreciation of the renminbi may further exacerbate trade tensions. Therefore, the renminbi will only break a small 7 and then fall back to the level below 7.

Sign Up for Our Newsletters

Get notified of important news and special executive deals.

You May Also Like

Xi Jinping’s special protagonist’s head of state’s car opened the secret of China’s auto industry

On October 14, Beijing time, Chinese President Xi Jinping has ended his…

Xiangyuan Culture, Zhao Wei, etc. were sentenced to 796,000, there are still more than 500 lawsuits

On May 17, the Xiangyuan Culture (formerly Wanjia Culture) announcement disclosed the…

China Telecom Commissioner Ke Ruiwen takes effect for the chairman today

China Telecom (0728) issued an announcement stating that Ke Ruiwen has been…

Jiahui one-bedroom households took out a new high of similar units in the zone with a price of 11.5 million yuan

Jiahua International (0173) is located in Jiahui, Kai Tak. The eight-seat one-bedroom…

China Considers Delaying NPC Session

Reuters quoted news from five people familiar with the matter on February…

Report of the Chinese Academy of Social Sciences: Shanghai, Sanya and Beijing are the top three most leisure cities in the Mainland

The Institute of Finance and Economics of the Chinese Academy of Social…