Effects of the Trump tariffs remain limited for now, but could escalate If China retaliates, report says
President Trump's long-threatened package of trade sanctions on China has landed, but a trade war isn't yet inevitable. In general, the threatened tariffs and investment restrictions on China won't likely cause deep pain to the Chinese economy, nor will they have a material impact on corporate borrowers in either country. However, S&P Global Ratings believes China's response will be the key determinant on what happens next.