Trump threatens tariffs on all $500 billion of Chinese imports

The FTSE 100, which had edged up 11 points in early trading, fell almost 18 points to 7,666.00 after Donald Trump told CNBC's Joe Kernen in a Squawk Box interview today that he was prepared to tax all of the $505.5 billion of imports from China. The price of soybeans has fallen 50% since 5 years before the Election.

"He's been saying since the '80s that trade deals are bad and we should have more tariffs, and that's what we're getting". Canada charges 275% on Dairy.

His comments anxious investors already grappling with the impact of a strengthening United States dollar on corporate results, and key stock indexes on Wall Street dropped at the open on Friday.

Economists say state intervention in the affairs of central banks can have disastrous consequences, leading to hyper-inflation and devalued currencies.

He added: "As usual, not a level playing field".

In a pair of tweets following the interview, Trump accused both China and the European Union of manipulating their currencies to keep interest rates low.

Israeli soldier and four Palestinians killed in Gaza Strip clashes
Meanwhile, a third Palestinian was killed due to Israeli forces carrying out airstrikes in the Rafah district, in southern Gaza. Jonathan Conricus said Palestinians hurled seven grenades and several explosive devices at troops along the border on Friday.

The American president has become embroiled in a war of words that has threatened to erupt into a trade war between the two powers. Juncker is set to meet with Trump on Wednesday.

"The dollar going down typically tends to lift equities and I think that is partly why we have seen a little bit of a turnaround today", Frederick said. The exercise marked the consummation of the Bilateral Currency Swap Agreement (BCSA) the CBN signed with the People's Bank of China (PBoC) in April 27.

U.S. President Donald Trump on Friday said he was poised to impose tariffs on $500 billion of goods from China, threatening in an interview with CNBC to escalate the current trade clash with the Asian nation.

US President Donald Trump is taking a more aggressive, protectionist posture on trade than his recent predecessors, sparking retaliatory measures from countries around the world and igniting disputes on multiple fronts.

Trump denounced the rate hikes in an interview with CNBC, just the latest time he has strayed from the traditions normally observed by the president.

In June, he also broke established protocol as regards to sensitive economic data with a tweet signaling May's strong jobs report ahead of the labor department's own announcement, a move some describe as a blatant misuse of presidential power as such numbers usually have an impact on stock and bond prices.

Putin proposed eastern Ukraine vote to Trump in Helsinki
Coats, the nation's top intelligence official, said "Did I hear you", per the HuffPost , then paused before saying: "OK". Trump did note, however, that while he agreed that Russian Federation had interfered, it " could be other people also ".

"The (yuan's) slide against the United States dollar will substantially cushion the impact on Chinese exporters from the planned next round of U.S. tariffs", IHS Markit's chief Asia economist Rajiv Biswas told AFP news agency.

The Fed has raised interest rates five times since Trump took office in January 2017, with two of those coming this year under Chairman Jerome Powell, the president's pick to replace Janet Yellen.

Former Dallas Fed President Richard Fisher told CNBC that Trump is out of line.

'I'm ready to go to 500, ' Trump said.

Trump also acknowledged that his comments are unusual but said he doesn't care.

Trump Promises 'Big Results' From Controversial Putin Summit
But he refused to reverse other comments in which he backed Putin's "extremely strong and powerful" denial of Russian involvement. Senate Democratic leader Chuck Schumer said Trump was trying to "squirm away" from his comments alongside Putin.

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