US President Donald Trump has indicated that he is prepared to impose tariffs on Chinese goods worth $ 500 billion if China does not back down from its trade policies. He claimed in a television interview that the United States is being exploited by China, the European Union, Mexico and Japan because they want trade surpluses with the United States.
For China, Trump wants to reduce its trade deficit of $ 375 billion. The United States has already imposed tariffs on $ 34 billion of Chinese goods, with another $ 200 billion being considered, while China has also imposed $ 34 billion in US goods.
Before the end of yesterday's trading, the US president criticized the Federal Reserve policy despite rising inflation to its highest level in 7 years and falling unemployment to its lowest level in 40 years, which justified the recent rise in interest rates and the strong dollar.
Trump said he was unhappy but at the same time said he was allowing the Fed to do what they feel is best. Following the comments, the US dollar fell sharply against its rivals.
