Trump heightens China tariff threat with no deal in sight

China Fixes Yuan at Lowest in Over a Year After Rebuffing Trump’s Currency Charge

On Friday morning, the yuan fell to 6.7943 CNY for one United States dollar, down 0.28% from the previous day, and then slightly recovered to close to 6.78 CNY at the end of the day, generating rumors that the central bank to intervene in the foreign exchange market.

The White House has also itemized $200 billion of additional Chinese imports that it said may be subject to tariffs.

Around $505 billion of Chinese goods were imported to the United States in 2017, leading to a trade deficit of almost $376 billion, US government data shows.

Trump, on Friday, lamented the recent strength of the U.S. dollar and accused the European Union and China of manipulating their currencies.

However despite Trump's comments, the greenback is about 5% higher than it was when he imposed tariffs on steel and aluminum imports on March 23. "So in order to keep inflation in check they may need to hike interest rates".

The remarks, coupled with Trump's threats to impose tariffs on all US imports from China, triggered a bout of sell-offs in Wall Street and European stocks on Friday, despite good corporate earnings.

The US leader is already embroiled in a messy trade spat with China and Europe, while negotiations with Canada and Mexico to revamp the North American Free Trade Agreement have stalled. He said if the Fed continues to raise interest rates, it will slow down economic growth.

Moody's Analytics estimates that if the tariffs were imposed on autos and most Chinese imports and other countries retaliate as expected, annual USA growth would slow by 0.5 percentage point by mid-2019.

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Page has denied being a Russian agent. "If the dossier is the reason you issued the warrant, it was a bunch of garbage", Graham said.

"Threats and intimidation will never work on China".

"It's probably a little too early for the indirect impact of the U.S".

Stock markets rallied Tuesday, helped by Chinese stimulus plans and some strong corporate earnings, traders said.

"That attracts dollars to the United States and increases the absorption of capital within the U.S. economy. Rising trade protectionism could inflict significant damage to USA economy", May said.

"Currency is now part of the trade war folks", said Greg McKenna, Chief Market Strategist at AxiTrader. Yet any such agreement would require extensive talks over how it would be implemented and verified.

Asian stocks are seeing some hesitation at the new week's outset, recoiling at the possibility of further trade action to come from the United State's President Trump.

"We are being taken advantage of, and I don't like it, " Trump said. He has been denouncing other countries' trade practices and urging retaliation for decades, dating to the 1980s, when Japan was regarded as America's main global economic threat.

Shrugging off the weaker yuan, China's stock markets rose as investors cheered the prospect of policy easing and picked up bargains.


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