“We expect tariffs targeting the remaining $300bn of U.S. imports from China to go into effect,” the bank said in a note sent to clients. U.S. President Donald Trump announced on Aug. 1 that he would impose a 10% tariff on a final $300 billion worth of Chinese imports on Sept. 1, prompting China to halt purchases of U.S. agricultural products. China denies that it has manipulated the yuan for competitive gain.
