EUR/USD Rallies Past 1.1500 as USD Tumbles on Fresh Tariff Threat

  • The relief that the US and China may have reached some kind of agreement that could relax Chinese exports of rare earth metals to the US—in exchange for allowing more Chinese students to study at US universities, was short-lived, as many sticky points remain uncertain beyond these cited concessions. Trump apparently expects the tariffs to stay as they were set in Geneva, meaning 10% on US exports to China and 55% on Chinese exports to the US, while there's no news regarding US technology exports to China.