The dollar has weakened slightly this morning as tariffs on $200 billion worth of Chinese imports into the U.S. will be raised to 25% from 10%.
The Federal Reserve has warned this morning that US consumers may feel the impact of these tariff hikes, as businesses could be forced to pass the rising costs onto customers.
With regards to the trade talks themselves, trade Sources say that Chinese Vice Premier told US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin there is nothing more he can do. He told them now it’s up to President Trump and President Xi to work out the remaining issues.
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