Investors are bracing for a wave of selling when the sharemarket opens on Monday after US President Donald Trump threatened to slap huge tariffs on China, but the pullback is expected to be short-lived as traders pounce on a rare opportunity to snap up expensive stocks.
Trump declared over the weekend he would impose an additional 100 tariffs on China and export controls on “any and all critical software” from November 1 in retaliation to Beijing placing curbs on the export of rare earths. The White House acknowledged Trump could retreat from the dramatic escalation if China backed down from its rare earth restrictions.
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