Breaking: China announces new tariffs on $75 billion price folks merchandise, USD/JPY drops sharply

Confirming international Times' earlier reports, China has recently declared that it's attending to raise import tariffs on some U.S. imports, per Reuters.

"New tariff rates can apply to concerning $75 billion price folks merchandise," China expressed. "New tariff rates obligatory on some U.S. merchandise are starting from five-hitter to 100 percent and can get on Sept one and Dec fifteen."

With the initial reaction to the current announcement, the USD/JPY erased its daily gains and was last seen mercantilism at 106.42. Meanwhile, the U.S. greenback Index continues to be up zero.13% on the day at ninety eight.33.