New US tariffs on China imports to signal prolonged corporate headwind: Fitch

Although credit implications are limited, risk mitigation via pricing actions, supply chain adjustments, localised production and end-market diversification could increase in importance due to the need to manage ongoing trade uncertainty, it said.Earlier this week, the United States accused China of reneging on prior concessions and confirmed tariffs on 200 billion dollars of Chinese imports could increase to 25 per cent from 10 per cent on Friday. The possibility the tariff could be extended to another 325 billion dollars of imports not already taxed was also raised.Tit-for-tat tariffs began in early 2018. Major sticking points in trade negotiations include technology transfer and intellectual property.Fitch Ratings Inc -- one of the Big Three credit rating agencies globally -- said the state of US-China trading relationship is an important issue for American corporations due to the size of Chinese market, intricate global supply chains and potential knock-on effects on the global ...