Trump Ready to Hit All Chinese Imports With Tariffs

Donald Trump

Modal Trigger Getty Images

White House spokeswoman Lindsay Walters said in an emailed statement that the president "respects the independence of the Fed", adding that his views on rates "are well known and his comments today are a reiteration of those long-held positions".

During a CNBC interview on Friday, President Donald Trump has said that he's "not happy" with the Federal Reserve raising interest rates, and that he thinks doing so undermines any work he does for the economy. "As usual, not a level playing field", Trump tweeted.

The U.S. president took his second shot in as many days at the man he hand-picked to run his central bank on Friday, saying the Federal Reserve's current plan to raise interest rates will "hurt" his administration and "penalize" the economy.

The president also said the European Union is "making money easy" and China is manipulating its currency.

The People's Bank of China set the Chinese currency's central parity rate to 0.9 percent weaker against the dollar on Friday.

Beijing can't tax as many USA goods - the United States exports far less to China than it imports - but it has other tools. The US should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. "I'm doing this to do this right thing for our country".

Fed has raised the benchmark lending rates twice this year, after three increases in 2017, and two more rate hikes are expected this year as the central bank removes stimulus from the economy to keep a lid on inflation. He was referring to the $ 500 billion worth of import from China to the United States every year.

During the 2016 campaign, Trump said she should be "ashamed of herself" for creating a "false stock market" with low rates.

Earlier, before Trump's comments were aired, most Asian markets finished higher.

Breaking with tradition to avoid criticizing the Fed, Trump told CNBC he's anxious that the central bank's policies will cancel out his efforts to speed up the economy.

And while Trump's commentary on interest rates and the Fed Friday morning was framed around his displeasure with key USA trading partners and their currency policy, he is being very frank about his preferences for how the Federal Reserve conduct its monetary policy. "I really like President Xi a lot, but it was very unfair".

So Clinton said that the Fed's independence was one of the things that actually made the USA economy look strong, according to Low. "He was being asked - pestered really - about a series of Fed rate hikes", Low said.

Following the financial crisis, the U.S. indirectly used low interest rates to keep the dollar low, he said. The probability investors assigned to a Fed rate hike in September was little changed near 90 percent after the president's remarks, while the probability of a December hike was also holding near 65 percent, according to trading in federal funds futures.

After weeks of apparently fruitless negotiations, the United States early this month imposed 25% tariffs on approximately US$34 billion (RM138 billion) of Chinese mechanical and technological products, sparking an immediate response from Beijing, which said it would hit back dollar for dollar.

Latest News