Trump said he’s “ready to go” with tariffs on $500 billion of Chinese goods, roughly the value of all U.S. imports from the country last year. AFP / GREG BAKER
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U.S. President Donald Trump lashed out at China and the European Union for their weak currencies and said a stronger dollar and rising interest rates are undermining America's "competitive edge," taking a fresh jab at the Federal Reserve. Trump also said that he's prepared to impose U.S. tariffs on all Chinese imports.Trump is breaking with decades of tradition that presidents avoid commenting directly on the dollar or the path of U.S. monetary policy.For years, the U.S. has hewed to the idea that a strong dollar is good for the U.S. economy.The Fed has raised interest rates five times since Trump took office in January 2017, with two of those coming this year under Chairman Jerome Powell, the president's pick to replace Janet Yellen.Trump earlier this month imposed 25 percent tariffs on $34 billion of Chinese goods, with another $16 billion to follow soon.
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