Trump threatens tariffs on all US$505 billion of Chinese imports

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Hatch took aim at tariffs imposed by Trump not only on China but also on US allies and partners in Europe, Canada and Mexico. "As usual, not a level playing field", the president tweeted.

US President Donald Trump is taking a more aggressive, protectionist posture on trade than his recent predecessors, sparking retaliatory measures from countries around the world and igniting disputes on multiple fronts.

He said the Fed's course of tightening monetary policy "now hurts all that we have done". I don't necessarily agree with it because he's raising interest rates, I'm not saying I agree with it, and I don't necessarily agree with it, I must tell you I don't.

The latest attack by Trump comes amid escalating trade disputes between the U.S. and its trading partners.

That would equal the amount of annual Chinese exports to the USA for the year.

The dollar fell across the board on Friday, as the latest comments by U.S. President Donald Trump complaining about the strength of the greenback and the rise in U.S. interest rates squashed a rally that took it to a one-year high the previous session.

"China, the European Union and others have been manipulating their currencies and interest rates lower, while the United States is raising rates while the dollars gets stronger and stronger with each passing day - taking away our big competitive edge".

"Trump wants to win over more voters by starting a trade war", the cartoon says. And because we live in a reality where logical human behavior reigns supreme, the president has remained demure on all Fed-related topics this morning...

On Friday morning, Trump for a second day also criticized the Federal Reserve, breaking with a long-standing tradition at the White House of avoiding any influence, real or perceived, on the independence of the USA central bank.

Israel further tightens Gaza blockade over arson kites
People carry the body of a Palestinian who was killed in an Israeli air strike, at central Gaza City, 14 July 2018. Hamas denies this and its spokesman Fawzi Barhoum blamed Israel on Saturday for the escalation.

"A big reason is bad (terrible) Trade Deals with other countries", Trump said.

But the president also acknowledged he was aware of the traditions that president's typically allow the Fed to operate independently to ensure the smooth functioning of the world's largest economy.

"I don't like all of this work that we're putting into the economy and then I see rates going up", Trump said. I don't really - I'm not happy about it.

Trump defended his comments to CNBC by saying he is "just saying the same thing that I would have said as a private citizen". "I'm ready to go to 500".

During his presidency, Richard Nixon had pressured the chairman of the Federal Reserve into keeping rates low, a fact revealed on the tapes he infamously used to record this and thousands of hours of other conversations.

USA government bond yields rose as Trump repeated his criticism a day earlier of the Federal Reserve's policy on raising interest rates, saying it takes away from the United States' "big competitive edge".

America's central bank has twice increased benchmark lending rates this year, following three raises last year.

"I'm not thrilled", Trump told the network in an interview excerpt aired yesterday. "I want them to do well", the U.S. president said of China.

Asked if he would do it even at a cost of a stock market drop, he said: "If it does it does".

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