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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

China Strikes Back With Tariffs | NAFTA Talks Set to Resume

Published September 19, 2018
  • The US and China plunged deeper into a trade war after Beijing added $60 billion worth of US products to its import tariff list in retaliation against $200 billion worth of new trade sanctions on Chinese goods announced by President Donald Trump.
  • Foreign Affairs Minister Chrystia Freeland is back in Washington and will meet US Trade Representative Robert Lighthizer in search of a way to bridge the divide that’s keeping Canada out of a new NAFTA pact.
  • China cut US treasury holdings as the trade war intensifies between the world’s two largest economies. China’s ownership of US bonds, bills and notes slipped to $1.17 trillion, the lowest level since January.
  • Prime Minister Theresa May is preparing to refuse Brussels’ improved offer on the Northern Ireland border riddle. The Prime Minister will call for a compromise over talks, particularly with the Irish border issue, during a crunch summit in the Austrian city of Salzburg today.