If you've been following along for the past few hours this is not news
- Higher U.S. tariffs on Chinese goods look increasingly likely.
- President Trump asked the U.S. Trade Representative to consider increasing proposed levies on $200 billion in imports to 25 percent from 10 percent, which could be implemented as soon as next month.
- U.S. President Donald Trump this week instructed the U.S. Trade Representative Robert Lighthizer to consider raising the tariff on a proposed list of $200 billion worth of Chinese goods to 25% from 10%, the USTR announced on Wednesday.
- U.S. President Donald Trump sought to ratchet up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports, his administration said on Wednesday.
Links to the reports for more are there, but you know the story already.
Oh, if you are wondering why the gain for CNH:
- Officials, asked about weakening of Chinese yuan, say it is important that countries do not devalue their currencies for trade advantage (link for more)