Currency markets reacted wildly after Federal Reserve Chairman Jerome Powell calmed investors just before U.S.-China trade tensions reached another heightened plateau. Friday's currency moves again demonstrate that tariffs--the primary weapon in this modern war--are a blunt, somewhat ineffective, instrument. Maybe market participants should have been ready for volatility because Friday started out chaotically.
China targets soybeans, autos and other products in key swing states ahead of 2020 election. American cars, soybeans and oil are among thousands of products that China has targeted for additional tariffs, marking the latest volley in a widening trade war with the United States that has damaged the global economy and could pose a risk to President Trump's reelection. China on Friday said it would increase existing tariffs by 5% to 10% on more than 5,000 U.S. products in several...
* Trump says U.S. "far better off without China" * China sets tariffs of 5% or 10% on $75 bln in U.S. goods. * Targeted goods include soybeans, beef, pork, crude oil. * U.S. president meeting with trade team -official. By David Lawder and Se Young Lee.
President tweets he wants American companies to look for alternative to China. President Donald Trump on Friday slammed Federal Reserve Chairman Jerome Powell after a closely watched speech, asking if the central bank chief or China's president was a bigger enemy of the United States. 'WHO IS OUR BIGGER ENEMY'.
President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy, asking whether the man he handpicked to run the U.S. central bank was a greater "enemy" than Chinese leader Xi Jinping. "As usual, the Fed did NOTHING! "My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"
President Donald Trump reacted furiously on Friday after Federal Reserve Chair Jerome Powell linked the trade war with China to risks to the U.S. economy, asking whether the man he handpicked to run the U.S. central bank was a greater "enemy" than Chinese leader Xi Jinping. "As usual, the Fed did NOTHING! "My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"
* USD index weakens after Powell speech, Trump tweets. * Trump expected to announce action on China later in the day. * Crude on track for weekly decline. By Rodrigo Campos. A global stock index fell alongside oil prices and U.S. yields after U.S. President Donald Trump threatened to further escalate his trade war with China "this afternoon" after a new round of retaliation tariffs from Beijing.
U.S. interest rates futures rallied on Friday as rising trade tensions between China and the United States revived bets the Federal Reserve may lower key borrowing costs by a bold half-point next month. Earlier Friday, Beijing said it will impose a retaliatory tariffs on about $75 billion worth of U.S. goods targeting agricultural and oil products.
President Donald Trump on Friday said the Federal Reserve "did nothing" after Chairman Jerome Powell said the central bank is watching economic developments and will "act as appropriate." Trump, who has frequently pressed the Fed to aggressively cut interest rates, asked in a tweet, "who is our bigger enemy," Powell or Chinese President Xi Jinping, after China announced new tariffs on American products. The Dow Jones Industrial Average flipped into positive territory Friday after...
By Myra P. Saefong and William Watts, MarketWatch. U.S. benchmark loses 3%, widens discount to Brent. Oil dropped on Friday, sending the U.S. benchmark lower for the week, after China announced it would impose retaliatory tariffs on $75 billion worth of imports from the U.S., including a levy on crude, amplifying concerns about the global economy and demand prospects.
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