Trump seeking $60 billion in tariffs, additional restrictions for China - Reuters

Donald Trump is swinging for the fences today after dumping his hand-picked Secretary of State, Rex Tillerson. The headlines are continuing to pour out of the US session heading into the New York close, this time with further expansion on additional tariffs and restrictions being mulled over by Trump's administration, mentioned in FXStreet's own Ross J. Burland's White House wrap-up here.

Reporting from Reuters citing an unnamed senior White House official.

Key highlights:

  • Possible tariffs on a wide range of Chinese-made products, including electronics, furniture, toys, and telecommunications.
  • Total value of products getting slapped with tariffs could exceed $60B in USD terms.
  • China tariffs announcement to be expected "in the very near future".
  • Tariffs are aimed primarily at Chinese technology and intellectual property.
  • Tariffs could cover more than a hundred unique products, but final number is unknown.
  • Trump's action plan against China could also involve investment restrictions.
  • Also potential restrictions on Visas for Chinese travellers.

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