Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
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After U.S. Department of Agriculture (USDA) announced yesterday at the direction of President Donald Trump that it is launching an assistance program of $12 billion to provide support to the U.S. farmers hit by retaliatory tariffs from China, Mexico, India, and the European Union, President Trump based China for its retaliation and vowed not to play nice anymore.
President tweeted, “China is targeting our farmers, who they know I love & respect, as a way of getting me to continue allowing them to take advantage of the U.S. They are being vicious in what will be their failed attempt. We were being nice - until now! China made $517 Billion on us last year.”
He also took a jab at politicians, who have been asking him to back off on trade, “Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking? Are we just going to continue and let our farmers and country get ripped off? Lost $817 Billion on Trade last year. No weakness!”
Knowing past records of Mr. Trump, we expect the next round of tariffs on $200 billion worth of goods from China to arrive by the first week of August.
