"Yesterday, China issued Retaliatory Tariffs of 34%, on top of their already record setting Tariffs, Non-Monetary Tariffs, Illegal Subsidization of companies, and massive long term Currency Manipulation, despite my warning that any country that Retaliates against the U.S. by issuing additional Tariffs, above and beyond their already existing long term Tariff abuse of our Nation, will be immediately met with new and substantially higher Tariffs, over and above those initially set. Therefore, if China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th. Additionally, all talks with China concerning their requested meetings with us will be terminated!"
In FX, we're seeing the dollar trade lower on the day after the gains overnight. EUR/USD is up 0.5% to 1.0965 while GBP/USD is recovering after the plunge in the past two days to be up 0.4% to 1.2770 currently. Meanwhile, AUD/USD is also marked up by 1% to 0.6045 at the moment.
0645 GMT - France February trade balance data1000 GMT - US March NFIB small business optimism index
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
This article was written by Justin Low at www.forexlive.com. Read More Details
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