The latest exchange of tariff hikes between Washington and Beijing have driven Chinese banking and tech stocks lower. However, the turmoil has benefited the country’s agricultural sector which managed to outperform.
The long-running trade dispute between the world’s largest economies has intensified recently, adding to investor concerns. Earlier this month, US President Donald Trump announced an increase of tariffs on $200 billion worth of Chinese imports from 10 to 25 percent, pledging to introduce further levies on another $300 billion in goods. Beijing retaliated by hiking tariffs on $60 billion worth of US products, starting June 1. (RT)