Trump threatens tariffs on more Chinese imports, United States News & Top Stories

US dollar down on as Trump makes fresh threats vs China

When Washington announced it was to impose tariffs on US$50 billion worth of Chinese products on June 15, China's Ministry of Commerce immediately issued a statement, at 1:30am local time that Saturday, announcing its retaliatory measures, with a detailed list of U.S. products that Beijing would target for additional import duties.

In addition, President Trump has told the Commerce Department to investigate whether imported autos and auto parts threaten America's national security - the same justification the president invoked to impose tariffs on steel and aluminum.

A so-far-restrained response from China has helped stabilise sentiments toward the end of the week, but we remain cautious on the local market assets of countries that are exposed to these escalating trade tensions.

"We're down a tremendous amount", Mr Trump said in an interview with CNBC recorded on Thursday and broadcast yesterday. The yuan "will be more stable, as the United States could interpret further depreciation as a form of retaliation", they said, sticking with a three-month forecast of 6.7 per dollar.

In real terms, China could not match the scale of Trump's suggested US$500 billion of tariffs - roughly the total value of Chinese products imported by the USA past year.

The U.S. dollar weakened the most since March while the loonie surged, U.S. Treasuries tumbled and stocks closed mostly lower after President Donald Trump's latest verbal salvos fanned investor concern that a global trade war is escalating.

As American farmers start to wonder how much President Donald Trump's trade war with Beijing could cost them, China's government has a cartoon soybean ready to answer their questions.

United States charges Russian national with being a foreign agent
The Washington Post reported that her attorney had said that the Federal Bureau of Investigation had searched Butina's residence. The charges against Butina were not brought by special counsel Robert Mueller, but rather, by the Justice Department itself.

The Central Bank of Nigeria (CBN) has started the trading of Yuan for the first time after the country secured a Naira-Yuan currency swap deal.

The Chinese textile suppliers who claim they were hired to manufacture the Trump themed hats and flags have complained that the delays at customs are negatively impacting their sales. Critics lined up to urge the administration to reject auto tariffs. The euro rose to USD1.1655 from USD1.1644.

The administration says it wants China to end the theft of intellectual property from US companies and curb policies that require American and other foreign businesses to hand over technology in exchange for access to the Chinese market. Italian 10-year yields increased eight basis points to 2.59 percent.

The yuan has been skidding since February, mostly because of slower economic growth in China and rising interest rates in the U.S.

OIL: Benchmark U.S. crude added 1.4 percent to $70.46 a barrel in NY and Brent crude, used to price worldwide oils, gained 0.7 percent to $73.07 a barrel in London.

The yield on Europe's benchmark bond, the German 10-year Bund, hit a one-month high of 0.39 percent while US 10-year Treasury yields also hit their highest in a month at 2.90 percent. Heating oil edged up 0.7 percent to $2.10 a gallon. The Chinese central bank implemented the sharpest one-day lowering of the trading range for the yuan in two years. Silver gained 1 percent to $15.55 an ounce.

Germany's DAX lost 1 percent and France's CAC 40 slid 0.3 percent. Hong Kong's Hang Seng slipped 0.5 percent and the Shanghai Composite Index was down 0.15 percent. Japan's Nikkei 225 fell 0.3 percent.

Related News:



Most liked

Fakhar Zaman overtakes Kohli, Viv Richards; fastest to 1000 ODI runs
His opening partner Imam-ul-Haq was also in the runs once again, the pair producing their fourth century stand of the series. The 28-year old also became the first Pakistan batsman to score 500-plus runs in a five-match bilateral series.

Rouhani says conflict with Iran would be ‘mother of all wars’
Addressing his USA counterpart Donald Trump, Rouhani said: "You declare war and then you speak of wanting to support the Iranian people". 'Don't play with fire, or you will regret, ' he continued.

The Limited Edition Spider-Man PS4 Pro Is A Thing Of Beauty
The animation is being pushed to the boundaries to make sure that Spider-Ham looks his best when presented on the big screen. The Spider-Man PS4 Pro bundle is scheduled to launch alongside the game on September 7, and it retails for $400.

Manchester City 'not disappointed' over losing Jorginho to Chelsea - Guardiola
If they want to come, that's great but if he wants to go to Chelsea , all the best for him. Guardiola is prepared for Hart to "stay here" if no acceptable offer materialises.

Spurs, Raptors agree to Kawhi-DeRozan trade
While the Spurs cleared him to play, Leonard never felt comfortable, and the gap between the two sides only seemed to widen. Well, we still don't, but now at least we know what they weren't willing to part with for the disgruntled Spurs star.

Coats Releases Statement Reaffirming Russia Meddled in 2016 Election
And thus far the only figure in the administration to contradict Mr Trump has been Director of National Intelligence Dan Coats. The party of Donald trump criticized his statement at a press-conference with Vladimir Putin in Helsinki.

Deschamps wins World Cup as player, manager
Most goals scored by a team of DECHEMA, despite the obvious superiority of the East Slavic team. A total of 64 training grounds had been constructed prior to the World Cup championship.

Cristiano Ronaldo's mother speaks on son’s choice of Juventus over Manchester United
It has been on the losing side in the final five times since then, including twice in the past four editions. At the age of 33, many football players are past their peak.

Antonio Conte Writes Emotion Message To Chelsea Following His Sacking
Sarri's first competitive match is against Manchester City in the Community Shield at Wembley on Sunday, August 5. Sarri said: "I am very happy to be coming to Chelsea and the Premier League ".

How Elon Musk can regain investors' confidence
With Tesla's market value down by $2 billion in one day, shareholders would be better off if Musk had followed his own advice. Divers completed the rescue of 12 boys last week while saying that Musk's submarine was "not practical for this mission".

Putin summit: Five standout moments from the Helsinki meeting
What's the matter with you?' 'What happened to the strong words, and to the strength of President Reagan when he said "Mr. He later went on to say that before the meeting, the USA relationship with Russian Federation was a "potential problem".

Putin made 'incredible offer' in Russian hacking case
In case you missed it, Trump and Putin had a joint press conference, and it's been a true ride for most of us unfortunate enough to witness it.

Putin: Trump was 'of no interest' to Russian Federation before 2016 election
Why would Mueller issue the indictment just three days before the summit, asked Wallace. "It makes us less safe", Biden said. The comments ignited a firestorm in Washington and received condemnation from both Republicans and Democrats.

President Trump lowers expectations for Putin meeting
CBS's Jeff Glor asked Trump whether he would ask Putin to extradite those Russians to the United States. In an interview on Sunday, Trump downplayed the significance of the tete a tete.

Blockbusters in Alaska set to close; 1 store left in US
Oliver said he hoped Russell Crowe memorabilia, including the jockstrap, would help the store attract customers to the store. In an interview Thursday, Daymude said many customers had called or stopped by to say they'll miss their local Blockbuster .