Donald Trump

US China trade war "already affecting global growth"

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Bank of England financial policy maker Donald Kohn is asked about the effects of the trade war between the US and China.

Mr Kohn says: "[The trade war] is already having an adverse effect on global growth. And you can see it everywhere, especially in the US, but other places as well. The uncertainty about how this is going to play out is having a very adverse effect on business capital spending. Businesses are putting off decisions, they don't know how the supply chains need to be reconfigured, they don't what the cost of the inputs and the price they get for the outputs will be, so it's already having an adverse effect on the global economy."