By George Lei, Bloomberg Markets Live reporter and strategist
The White House officially confirmed that US President Donald Trump will unveil his reciprocal tariff push on Wednesday during an event in the Rose Garden. The announcement is not expected to target China specifically — nor is it likely to hit Chinese assets much. Instead, Wall Street analysts see a likely period of relative calm that could predate more upcoming storms.
After two rounds of hikes this year, America’s average tariff rate on Chinese goods now far exceeds that of China’s, both Goldman Sachs and Citigroup pointed out. Goldman estimates US levies on the Asian nation now surpass 30%, compared to China’s 19% on American products.
