President Trump announced more tariffs on $200 billion of Chinese imports yesterday. He threatened China with even more tariffs if they dare retaliate against these. Despite his threats, Chinese officials stated that reciprocal tariffs from China will be implemented in order to balance the damage the United States is causing to international trade. Chinese publications have been changing their tone lately, pointing to a more aggressive stance than China has shown so far.
In other news, crude oil prices are stabilizing higher this week. The impact of the sanctions against Iranian oil is becoming more pronounced day by day and prices are rising amid concerns for lesser supply. American crude is trading near $69.67, while the Brent crude is at $79.25. Tomorrow we expect data from the US regarding oil supply - this report will affect the price.
