If Trump refuses to roll back tariffs, loss to American farmers could be permanent – Global Times

Dhwani Mehta FXStreet

“If Trump administration refuses to roll back high tariffs, the vast number of American farmers could face a loss of exports to the Chinese market, and the loss could be permanent if the trade war lingers longer,” the Chinese highly-read news publication, The Global Times, warned in its editorial piece on Wednesday.

The China Press added: “Also, international supply chains, which support the growth of all world economies, are being seriously disrupted, causing tremors in a plethora of smaller economies relying on trade. The problem will need many years to fix.”

With markets eagerly awaiting the final outcome of the ongoing US-China trade talks and a likely trade deal, the market mood remains elated amid the recent optimistic comments from US President Trump delivered on Tuesday. USD/JPY holds near two-week tops while the US dollar trades firmer across its main competitors, as the focus now shifts towards the US data dump.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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