US Pres Trump says he could use tariffs to respond to China

Ross J Burland FXStreet

US Pres Trump has crossed the wires and has said that the US trade deal with China has been “upset very badly” by the coronavirus and is now saying that he could use tariffs to respond to China.

Additional comments

Says he could use tariffs to respond to China.
Says declines to say whether he holds Xi responsible for misinformation from China.
Says the China trade deal now is secondary to what China did with the virus.
US Pres Trump: US trade deal with China has been “upset very badly” by the coronavirus

While there has been less of a reacton to these comments today than yesterday's spike in the US dollar, COVID-19 and trade wars are not a good recipe for markets and could well be the nail in the coffin for equities and benchmarks attempting to recover from the gravitational pull of a black hole. The dollar is spiking on the news today.

AUD/USD: Bears attacking 0.6500 after pullback from seven-week top

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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