Tit-for-tat tariff battle could spark downturn in global economy - BIS
(The Guardian China)

Warning comes as Donald Trump steps up hostility with some key trading alliesAn escalation of protectionist measures could spark a fresh downturn just as the global economy is picking itself up after the last one, the international body that represents the world´s central banks has warned.The Bank for International Settlement (BIS) said there were already signs that `the ratcheting up of rhetoric` was weighing on investment. It comes as Donald Trump steps up hostility with some of the US´s key trading partners and allies, raising fears of a full-blown trade war. Related: Trump threatens car tariffs after EU sets up £2.5bn of levies on US Continue reading...