US President Trump ruled out Treasury Sec. Mnuchin’s proposal to warn China – Bloomberg

Anil Panchal FXStreet

Not only to the rest of the world but also the Trump administration was also taken aback by the US President Donald Trump’s surprise tariff announcement on Thursday.

Bloomberg report quotes several people familiar with the discussion while saying that the President Trump ruled out Treasury Secretary Steven Mnuchin’s recommendation on giving Beijing advance notice of his intent to slap a new 10% tariff on $300 billion in Chinese goods in an Oval Office meeting before he announced the duties.

FX implication

While the news shows the US President Donald Trump’s aggression towards the trade war with China, likely fueling safe-havens and exerting additional downside pressure on the Antipodeans, it had no major impact at the time of publishing.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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