Trump threatens tariffs on all $500 bln of Chinese imports

US dollar down on as Trump makes fresh threats vs China

The administration has also accused China of engaging in unfair trade practices by forcing American investors to turn over key technologies to Chinese firms.

The Stoxx Europe 600 extended declines to 0.8 percent, led by cyclical sectors including auto and mining, while the VStoxx jumped.

China accused the US of starting the "largest trade war in economic history".

Additionally, Business Insider reports that "manufacturers from China's Jiangsu and Hebei provinces, who have reportedly produced hundreds of "Make America Great Again" hats, have said the cost of their product is likely to spike due to impending tariffs". They will also be looking out for more USA corporate earnings, such as those from tech giants like Google, Amazon and Facebook. But it's something investors will have to think about.

"I'm not doing this for politics", Trump said in an interview with CNBC.

The Dow Jones Industrial Average finished down 6.38 points (0.03 per cent) at 25,058.12. Bond yields are rising and the dollar is falling.

Trump says meeting with Putin ‘even better’ than with North Atlantic Treaty Organisation
One of Trump's own Senators accused the President of making America look like "a pushover" by refusing to stand up to Putin. House Speaker Paul Ryan , R-Wis., rejected the idea of "moral equivalence" between the USA and the Russian Federation.

Earlier, the US Dollar was on the backfoot versus the Japanese Yen as well as the common currency Euro. May retail sales saw a rise of 2%, well above expectations of a 1% rise while June inflation jumped from 2.2% to 2.5%, raising the prospect that we might see another rate rise from the Bank of Canada by year end?

"The ECB meeting this week will be more in focus now that we've had this concern about Japan".

"Instead of making their exports better, they make them cheaper", The Balance says. GE, which has been selling and splitting off businesses, also cut its forecast for how much cash its businesses will generate.

In a taped interview with CNBC, Trump said "I'm willing to go to 500", referring roughly to the $505.5 billion in goods the USA imported a year ago from China.

Last week, the Trump administration also identified a further $200bn in Chinese goods it may target for tariffs, for a total of $250bn. China's central bank is allowing its tightly controlled yuan to drift lower against the dollar, a move that could help exporters cope with USA tariff hikes but raises the risk of reigniting an outflow of capital Beijing spent months trying to stanch.

The administration says it wants China to end the theft of intellectual property from US companies and curb policies that require American and other foreign businesses to hand over technology in exchange for access to the Chinese market.

RMC: Real Madrid and Chelsea reach deal for Thibaut Courtois
It's been reported by Kaveh Solhekol from Sky Sports that the FA Cup winners are considering signing Cech for a second time.

The yuan's decline looks less dramatic compared with other currencies.

The Central Bank of Nigeria (CBN) yesterday flagged off its intervention in the sale of foreign exchange in Chinese Yuan (CNY), signaling the consummation of the Bilateral Currency Swap Agreement (BCSA) signed with the People's Bank of China (PBoC) on April 27.

New Mexico Farm and Livestock Bureau President Craig Ogden said retaliatory Chinese tariffs on USA pecans and new tariffs from Mexico on US cheese products are likely to hurt producers in New Mexico.

Benchmark U.S. crude added 1.4 percent to $70.46 a barrel in NY and Brent crude, used to price worldwide oils, gained 0.7 percent to $73.07 a barrel in London. It was last up 0.08 percent.

METALS: Gold rose 0.6 percent to $1,231.10 an ounce. Uniform supplier Cintas gained 5 percent to $203.30. Copper jumped 2.2 percent to $2.76 a pound.

Germany's DAX lost 1 percent and France's CAC 40 slid 0.3 percent.

Liverpool 'offer £62m for Alisson'
The Reds have made a new keeper a priority but after the Champions League final, it became more of a necessity. Simon Mignolet , who started last season as number 1 at Anfield, is also expected to move on this summer.

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