President Trump indicated a preference to avoid imposing tariffs on China while maintaining them as a negotiating tool, causing Chinese markets and the yuan to rise.
In a Fox News interview, Trump moderated his campaign rhetoric of 60% tariffs, instead emphasizing tariffs as a “tremendous power” he’d “rather not have to use.”
This new stance has resonated with markets, as the Chinese yuan gained 0.6% and the CSI 300 Index rose 0.8%.
Original Source: Bloomberg
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