Trump To keep Supporting Farmers

August 6, 2019 Share Print 0

U.S. President Donald Trump on Tuesday dismissed concerns over a protracted trade war with China, saying the United States was “in a very strong position,” a day after his administration ratcheted up tensions by labeling Beijing a currency manipulator.

Trump, who said last week he would slap tariffs on a further $300 billion in Chinese imports starting Sept. 1, also sought to appease U.S. farmers after China shut the door to American agricultural purchases and raised the specter of additional tariffs on U.S. farm products.

The U.S. currency move on Monday further inflamed an escalating dispute between the world’s two largest economies that is dragging into a second year, rattling financial markets. Wall Street notched its worst day of 2019 on Monday.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.