[ad_1]
The President of the United States, Donald Trump, declared that he was ready to apply customs duties on imports of Chinese products of an additional value of 500 billion dollars, which would cause a more serious trade dispute with the Asian nation and "We have drastically reduced the amount of transactions," Trump said in an interview with CNBC on Thursday, citing the US trade deficit with China. "I'm ready to go up to 500 (one billion dollars)."
The Dow Jones and S & P 500 index futures, which had declined in the early hours of Friday against trade concerns, fell. even more after the broadcast of the interview.
Earlier this month, the United States imposed a $ 34 billion tariff on Chinese imports. In response, Beijing taxed US imports for the same value.
On Monday, the United States challenged tariffs announced in retaliation to the World Trade Organization, as well as taxes imposed by the European Union, Canada, Mexico and Turkey. When the US president was questioned about the possible decline of the stock market if the US imposed tariffs on such a large amount of goods, Trump said, "If that happens, it happens." Listen, I'm not doing that for politics. "
Trump wants Chinese leaders to take action to reduce US $ 375 billion trade deficit with China
in unfair trade practices by forcing US investors to provide key technologies to Chinese companies.
Deepens criticism of the Fed
In addition, President Trump deepened Friday his criticism of the politics of the Reserve Federal government (Fed) to raise interest rates, stating that these increases are depriving the United States of their "great competitive advantage" and complain again of the strength of the dollar.
Twitter, Trump also accused the European Union and China of manipulating their currencies and rates.
"China, the European Union and others have manipulated their currencies and interest rates.It is inconvenient, while the United States is increasing their rates at a time when the dollar is getting stronger as each day goes by, depriving us of our great competitive advantage, "writes Trump on Twitter
.After his criticism in the social network , the dollar extended its losses against the euro, the yuan and the yen
The Fed representatives could not be contacted immediately to comment.
It must be remembered that Trump had Already criticized Thursday the Fed's rate hike policy in an interview with CNBC, saying it feared that interest rate hikes could affect the economy.
Most economists believe that the current economic climate, with the country's unemployment rate at historically high levels low and inflation in the central bank target range of 2 percent, justifies the recent interest rate increases and a stronger dollar.
The issue is also related to recent trade disputes led by the Trump government with China, Europe and other partners, since the strength of the currency is usually making sales to the US. more expensive stranger, hurting exporters.
Source link
