Trump administration announces list of tariffs on $200 billion in Chinese goods


In paris frankfurt brussels all in croatia he i hitched good morning everyone your cratia found you then well i'm half bosnian it's close enough all right all right my wife is french so i have no choice when it comes to who is going to be supporting in the final on sunday anyway let's talk about the markets instead instead of football it had been fairly quiet on the trade front for a few days that's no longer the case officially i can say we're seeing a broad selloff in china focused socks this wednesday as the trump administration is pushing ahead with a plan to race fresh tariffs on chinese imports it means that the shanghai composite index is down by almost two percentage points looking at the broader asian equity space the mci asia pacific index off by nine tenths of one percent the nikkei two to five index also closing in negative territory declining here by one point two percent looking at to the european open european futures to are taking a hit this morning euro stocks fifty futures off by two thirds of one percent the same goes for futures docs futures declining by three quarters of one percent alongside that footsie one hundred futures metals getting hammered in connection with the trade story zinc prices for instance down by more than four percent on the copper also taking your hit by down by three point three percent when it comes to fixed income treasuries are bid this morning we are seeing the ten year treasury yield declining by warner basis points or so a little bit more than that actually two point eight three six percents that's why we're trading at the moment when it comes to those treasury yields when it comes to ethics we all seeing the dollar being bid this morning the bloomberg dollar spot index rising by zero point one six percent the euro is sliding a little bit one spot seventeen thirty six yes usa marcus markets really focusing on the trade story here and that moves onto our top stories the us administration has pushed ahead with plans to impose tariffs on an additional two hundred billion dollars in chinese goods by releasing a list of targeted products while china has yet to formally detail its response to the move an official at the commerce ministry said it will quote strongly oppose the tariffs with countermeasures moebius capsule partners co founder mark mobius as the situation is very critical i believe that it would be a real problem with china going forward the good news is that some emerging market countries will benefit from this just to give an example soybeans new civic export of soya beans a china but argentina could benefit that was moebius capital partners co founder mark mobius meanwhile donald trump has arrived in europe ahead of a nato summit visit to the uk and a one on one meeting with vladimir putin speaking at the white house a helipad he repeated his demand that nato members contribute to larger share of the alliance's budget interesting time in the uk and it's certainly going to be interesting beta.

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