Photo by: Bloomberg
The American-led trade war rhetoric, which has now led to the imposition of restrictions running into billion of dollars, is having an impact on various markets, from steel to soya beans. Soya bean (pictured in the top segment of the photograph above) futures were among the biggest losers in late June, while maize prices (also pictured above) slipped, along with those for wheat and cotton. Some commentators are now cautioning that an all-out trade war could push the world into another recession.