Print this page

HiFX Data Update - US to impose new tariffs on USD$200 billion of China imports, effective 24th Sept

  • font size decrease font size decrease font size increase font size increase font size

The Trump administration is set to impose tariffs on approximately USD$200 billion worth of imports from China, effective 24th September.

Key points are:

  • Tariff rate starts at 10% and will got to 25% by end of 2018
  • Some items excluded – smart watches, baby car seats, safety gear, chemical inputs for manufacturing, textiles, and agriculture
  • Trump administration remains open to negotiations with China, but no details on talks available
  • Trump administration is seeking systemic changes from China. Beijong has not seriously engaged on that
  • They do not want to constrain China’s growth or development
  • China has said it will retaliate with new tariffs on US goods
  • Trump says in statement if China retaliates he will immediately pursue tariffs on USD$267 billion in Chinese imports
  • Earlier this morning NZ Prime Minister Jacinda Ardern stated in a radio interview that she got a ‘hint’ of Thursday GDP numbers and that she was pleased with them. The NZDUSD jumped 10 pips in response. However, her office subsequently denied that she had advanced notice of the figures, insisting the PM made a mistake. Makes Thursdays release even more interesting than usual! The NZD is lower in response to the US tariff news. Current indicative levels are: NZDUSD 0.6560 / 0.6595NZDAUD 0.9175 / 0.9200NZDEUR 0.5620 / 0.5645NZDGBP 0.4985 / 0.5010NZDJPY 73.30 / 73.55



How much does your FX cost you?

We are partners of MSCNewsWire and assist many of their readers, partners and clients to manage their foreign exchange requirements more effectivly and effciently.  Benefits that our clients receive include:      

√  Better Exchange rates                  √  No TT fees                     √  Access to ur global payment network√  24/7 online platform and a personal dealer

As  NZ's largest non-bank FX provider and "The World's Trusted Currency Authority"  we can quickly and simply provide you a Free and No Obligation alternative to work alongside your existing bank relationship.

If you would like to discuss please feel free to contact Doug Warren from the XE team anytime:

Freephone: 0800 394 439   Mobile:  021 565 241   Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 

  • Source: A XE release