On Tuesday (04/03), China swiftly retaliated against the new US tariffs by announcing a 10%-15% increase in import tariffs covering a range of American farm and food products, as well as imposing export and investment restrictions on 25 US companies. COMMENTARY: OLE HANSEN, HEAD OF COMMODITY STRATEGY, SAXO BANK "From a pricing perspective, this comes at a very bad time for US corn prices, which are already under selling pressure from hedge funds who have in recent months amassed very large and sustained bets on higher prices. "This will further increase China's dependence on Brazilian...
China has retaliated against the new US tariffs by increasing import levies on a range of American agricultural and food products. The tariff increases announced Tuesday range from 10% to 15%. In addition, China has imposed export and investment restrictions on 25 US companies, citing national security concerns. China's foreign ministry said Tuesday that if the United States is determined to launch a trade war or tariffs, China will respond accordingly. The response will come in the form of countermeasures aimed at protecting China's rights and interests, according to ministry spokesman Lin...
Britain's finance minister said on Tuesday she was hopeful of securing a trade deal with the U.S. to avoid possible trade tariffs, but warned Britain was still likely to be hurt by duties imposed on other countries. Countries worldwide are scrambling to shield themselves from potential tariffs during U.S. President Donald Trump's second term in office. His administration's new tariffs on imports from Mexico and Canada, along with a doubling of duties on Chinese goods, took effect earlier on Tuesday. "I think there's every reason to be hopeful about coming to some sort of a trade deal,"...