Brazilian real and emerging market currencies fall after announcement of new tariffs by China in the United States

The Brazilian real has been quoted in 3.97 units per dollar, down 0.72%, after reaching more than 4 units in the day, its lowest price since April 25th.

Also the bag ofBrazil fell by more than 2%, affected not only by the situation between Washington and Beijing, but also after the Central Bank of South America revised downward growth prospects in 2019, forecasting only 1.45%.

On the other hand Turkish lira, one of the weakest currencies among emerging countries, traded at 6.08 units per dollar, down 1.9%.

The Indian rupeefor its part, it reaches 70.62 units per dollar, with a 0.89% loss in valuewhile the South African rand traded at 14.35 units per dollar, down 1.46%. While the Mexican peso fell by 0.57%, to 19.2 units per dollar.

China hits hard on emerging marketsto announce tariffs on US products worth $ 60,000 million, The finance ministry said Monday that in response to measures taken by Washington in the middle of the trade dispute between the two countries, the agencies reported. AFP and Reuters.

The Asian giant said in a statement that new tariffs on US products will come into effect on June 1.will increase from 5% to 25% and will be applied on a total of 5,140 products.

United States intensified Friday the tariff war with China by increasing taxes on Chinese products valued at 200 billion dollars.

A few hours ago President Donald Trump had warned China that she "should not retaliate" because the situation "would worsen". However, Beijing continued with the decision. "China will never give in to external pressure," said a spokesman for the Foreign Ministry.

White House economic adviser Larry Kudlow admitted Sunday that consumers and US companies are affected by tariffs. "Both parties will pay," he told the news Fox News.