U.S. President Donald Trump said in a tweet Sunday afternoon that the current 10% levy on $200 billion worth of Chinese goods will rise to 25% on Friday. He also threatened to impose a 25% tariff on an additional $325 billion of Chinese goods 'shortly.'
Trump said in a tweet Sunday afternoon that the current 10% levies on $200 billion worth of Chinese goods. He also threatened to impose 25% tariffs on an additional $325 billion of Chinese goods "shortly."
Though trade negotiations between Washington and Beijing officials are set to resume on Wednesday, the president lamented that the progress is moving "too slowly" as China tries to re-negotiate terms of the deal. "President Trump set the tone for the new week expressing dissatisfaction at the pace of China trade negotiations amid Beijing's attempt to renegotiate," Rodrigo Catril, senior foreign exchange strategist at National Australia Bank, wrote in a morning note.
"An increase in tariffs would be bad news for risk assets and would the prospect of a global growth recovery," Catril said., which tracks the greenback against a basket of its peers, was at 97.476 after seeing highs above 97.8 last week.
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