Germany-based credit rating agency Scope warned on Tuesday that the United States could go credit negative if the trade war weakens the trust in the dollar.

Scope's head, Alvise Lennkh-Yunus, said in a report that one of the countries most exposed to the negative impact of the trade war is the US itself "as the epicentre of this unorthodox policy shift, particularly in more extreme scenarios."

Moreover, Lennkh-Yunus sees three possible scenarios, starting with light tariff implementation leading to investment uncertainty, credit risk and technical recession for the US. The worst scenario, with permanent duties, would mean a "multi-year recession" for Americans and put global financial stability at risk.