The dollar weakened further yesterday as President Trump indicated that he has no deadline to complete a trade deal with China. Speaking to reporters in London, he said, “I have no deadline. In some ways, I think it’s better to wait until after the election, if you want to know the truth.”
It’s now questionable as to whether a phase one deal will be reached before an additional 15% tariff on Chinese products is imposed on the 15th of December.
This followed an announcement that the US will restore steel and aluminium tariffs on Brazil and Argentina and introduce proposals to impose tariffs on French goods in response to a new French tax on digital services that affects large American tech companies.
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