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BEIJING – Citi on Tuesday became one of the first investment firms to lower its China growth forecast on escalating trade tensions with the U.S.
In less than a week, U.S. tariffs on goods from China have more than doubled, while Beijing has hit back with more duties and restrictions on U.S. businesses.
Citi analysts cut their forecast for China’s gross domestic product to 4.2% this year, down by 0.5 percentage point, as they see “little scope for a deal between the U.S. and China after recent escalations.”
Natixis on Monday also told reporters the firm was cutting its China GDP forecast to 4.2% this year, down from 4.7% previously. – CNBC
