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: 2025.03.04
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China announces extra tariffs of up to 15% on imports of major US farm exports
World FX news
Breaking news
China announces extra tariffs of up to 15% on imports of major US farm exports
New
2025.03.04 15:27
2025.03.04 15:27
2025.03.04 15:27
China's Commerce Ministry announced on Tuesday that it will slap additional tariffs of upto 15% on imports of key farm products, including chicken, pork, soy and beef from the United States (US).
developing story ....
US-China Trade War FAQs
Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China's economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.
The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
Last updated
: 2025.03.04
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Pound Sterling holds onto gains against US Dollar on mounting Fed dovish bets
The Pound Sterling (GBP) trades firm near 1.2700 against the US Dollar (USD) in Tuesday's European session.
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2025.03.04 18:56Gold props up gains after tit-for-tat trade war emerges
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2025.03.04 18:39USD/CNH: Potential for USD to rise to 7.3250 - UOB Group
US Dollar (USD) is likely to edge higher vs Chinese Yuan (CNH); mild momentum suggests any advance is likely limited to a test of 7.3150. Strong advance indicates there is potential for USD to rise to 7.3250, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.03.04 18:36Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Tuesday, according to FXStreet data.
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2025.03.04 18:33China: CPI inflation likely negative in February - Standard Chartered
Official manufacturing PMI rebounded in February; 2-month average suggests steady production activity. Trade performance likely weakened last month due to both the holiday and tariff impact. CPI may have dropped y/y on a fall in prices of food, fuel and services, as well as a high base effect.
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2025.03.04 18:32USD/JPY can trade in a range between 148.50 and 150.50 - UOB Group
Outlook is unclear; US Dollar (USD) could trade in a range between 148.50 and 150.50 vs Japanese Yen (JPY). In the longer run, bias for USD is slightly tilted to the downside; unclear for now whether it can break and stay below 148.50, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.03.04 18:30Cocoa prices decline on fading supply fears - ING
The cocoa market continues to sell off, with London cocoa pulling back aggressively. The nearly 11% drop yesterday has cocoa trading at its lowest level since November, ING's commodity experts Ewa Manthey and Warren Patterson note.
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2025.03.04 18:27NZD/USD: Expected to continue to trade between 0.5590 and 0.5640 - UOB Group
New Zealand Dollar (NZD) is expected to continue to trade in a range vs US Dollar (USD), most likely between 0.5590 and 0.5640. In the longer run, room for NZD to continue to weaken; it remains to be seen if 0.5565 is within reach, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
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2025.03.04 18:24USD/JPY: Short bias on the day - OCBC
USD/JPY fell below 149-levels this morning amid sharp pullback in UST yields. Pair was last at 148.98, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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2025.03.04 18:21Silver Price Forecast: XAG/USD climbs to $31.80-$31.85 zone; upside potential seems limited
Silver (XAG/USD) attracts buyers for the second straight day on Tuesday and moves further away from a nearly four-week low, around the $30.85-$30.80 region touched last Friday.
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2025.03.04 18:05Disclaimer:
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