Trade war is 'lose-lose': JPMorgan research chief

Singapore

THE back-and-forth between the world's two largest economies that has haunted markets for much of the year is a "lose-lose situation for all parties involved", JPMorgan's global head of research Joyce Chang has said.

On Monday, US President Donald Trump exercised the move to impose 10 per cent tariffs on about US$200 billion worth of Chinese imports; duties will then rise to 25 per cent on Jan 1.

Late on Tuesday, China said it would take retaliatory tariff action against U…