• Media reports stated yesterday that US president Donald Trump instructed US trade officials for tariffs on additional $100 Billion Chinese imports
• The additional tariffs were considered “in light of China’s unfair retaliation” and cited as reasons that China has “repeatedly engaged in practices to unfairly obtain America’s intellectual property”.
• Chinese media rejected the threat as a ridiculous attempt of intimidation.
• Should there be further negative headlines about the issue we could see the USD weakening.
Mexico, Canada optimistic about NAFTA deal
• Canadian Prime Minister Justin Trudeau stated yesterday that NAFTA negotiations are moving forward in a significant way.
• The statement came after US officials made a number of optimistic comments about a preliminary deal on NAFTA.
• Furthermore, Mexican officials stated that with enough progress, the leaders of the three countries could make an announcement at a regional summit in Peru next week.
• Should there be further positive headlines for a deal in NAFTA we could see the CAD strengthening albeit yesterday’s comments did not seem to have an impact on the CAD.
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