Trump threatened tariffs on Canada, Mexico, and more on China earlier:
A statement from the Washington Chinese Embassy
- "About the issue of US tariffs on China, China believes that China-US economic and trade cooperation is mutually beneficial in nature"
- "No one will win a trade war or a tariff war"
- "The Chinese side has notified the US side of the progress made in US-related law enforcement operations against narcotics,"
- "All these prove that the idea of China knowingly allowing fentanyl precursors to flow into the United States runs completely counter to facts and reality"
Trump will be sworn in on January 20. We are just seeing sparring at this stage.
FX was slammed lower on the news (linked above) earlier, especially commodity currencies and, of course, the yuan. Its time for traders to prepare ahead of the opportunities to be served up for the next four years:
