US Treasury: US tariffs on Chinese goods are prepared at Trump’s direction

The US Treasury Department is out with a statement, citing that the US tariffs on the Chinese products are prepared at President Trump’s direction.

Earlier today, Reuters reported that Trump said he has asked the US trade representative to identify $200 billion in Chinese goods for additional tariffs at a rate of 10 percent.

Mounting worries over the US-China trade spat has accentuated the risk-off trade in Asia, benefiting the safe-haven Yen the most.