MS · News · 20260825N

Trade Policy and Tariffs

MORGAN STANLEY · 2026-08-25 · Importance 17 · Surprise 24

Morgan Stanley characterizes U.S.-China relations as shifting toward strategic competition rather than closer economic integration. The firm identifies trade and technology as central areas of tension ahead of the expected September summit. Morgan Stanley does not expect a major trade breakthrough and advises monitoring policy developments affecting supply chains and semiconductor self-sufficiency.

Key facts

• MORGAN STANLEY suggests U.S.-China relations are increasingly characterized by strategic competition rather than closer economic integration, particularly in trade and technology. source