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China Suspends U.S Crop Imports

05 August 2019 Maria Gregoriou

The big news at the end of last week was that U.S President Donald Trump announced that he would impose a ten percent tariff on a further $300 billion in Chinese imports. China has now hit back by allowing the Yuan to fall to the weakest level in more than a decade this morning and asking state-owned companies to suspend imports of U.S agricultural products, according to Bloomberg.

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Market focus

  • Economists expect a US recession by end-2021 – NABE survey
  • Eurozone annual inflation down to 1.0% in July
  • Eurozone current account surplus increased in June
  • UK households more cautious about major purchases - IHS Markit

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