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S&P Global sees credit rating breathing room for trade war rivals US and China

LONDON (Reuters) -The United States and China are unlikely to see a rapid hit to their credit ratings from a trade war, S&P Global's top sovereign analyst has said, with damage more likely concentrated on poorer countries and those already on downgrade warnings. S&P reaffirmed its "stable" outlook on its AA+ U.S. sovereign credit rating days before President Donald Trump announced his sweeping round of global trade tariffs in early April. It cited the U.S.' near 100%-of-GDP government debt level and a fiscal deficit running at 6%-7% of GDP as its key credit weaknesses, while it also pointed to the significant uncertainty around Trump's trade moves and other policies.