“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.
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