On March 22, 2018, Trump proposed to impose tariffs on up to $50 billion of Chinese imports leading to a significant concern over the "Trade War" between the US and China. We evaluate the market responses to this event for firms in both countries, depending on their direct and indirect exposures...

China's stock market is a policy-driven market, which is eager to get any signals about the monetary policy. Due to its limited independence, the People’s Bank of China (PBC) prefer to release ambiguous information with multiple sentiments at the single communication to the public. This paper...