Donald Trump has announced it is hitting an additional 10% tariff on the remaining $ 300 billion in Chinese imports to the US.
"Our representatives have just returned from China, where they held constructive talks related to a future trade deal. We thought we had a contract with China three months ago, but unfortunately, China decided to negotiate the deal before it was signed. agreed to ........ buy an agricultural product from the US in large quantities, but didn't do it.Moreover, my friend President Xi said he would stop selling fentanyl in the US - this has never happened to many Americans trade talks continue and during the talks, the US will start on September 1, introducing a small additional tariff of 10% on the remaining $ 300 billion of goods and products coming from China in our country. This does not include 250- those billions of dollars already priced at 25% ..... We look forward to continuing our positive dialogue with China on a comprehensive trade deal and we think the future between our two countries will be very bright! "
Quite unexpectedly, but it seems that the rumors that the negotiations are not going so smoothly are turning out to be true.
This is definitely risk negative and USD / JPY fell to 107.60. The S&P 500 has returned all its profits and is now red for the day.
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