Trump Said That Tariffs Will Be Imposed On Chinese Products From September, And International Oil Prices Will Plummet.

US President Trump said on 1 afternoon through social media that the United States will levy a 10% tariff on 300 billion US dollars imported from China from September 1st this year. However, Trump said that the future of China and the United States will be very bright as a result of a constructive dialogue with China on a comprehensive trade agreement.

Xinhua Finance New York 1 August by President Trump announced that it would levy 10% tariffs on China's US $300 billion exports to the United States in September 1st and lower expectations of the US Federal Reserve's rate cut. International oil price maintained its downward trend in the previous trading day on the 1 th of the previous session, which was weak in the afternoon, and was plunged in the afternoon due to Trump's tariff stance.

On the same day, the US Texas West light crude oil futures price dropped by nearly 8% in September, the biggest decline since February 2015, while the price of British crude oil futures for delivery in October dropped by nearly 7%. In September,

US President Trump said on 1 afternoon through social media that the United States will levy a 10% tariff on 300 billion US dollars imported from China from September 1st this year. However, Trump said that the future of China and the United States will be very bright as a result of a constructive dialogue with China on a comprehensive trade agreement.

In the case of world crude oil supply is still sufficient, Trump's statement further exacerbated the market's concerns about the growth prospects of global oil demand.

John Kilduff, partner of Again capital management company, said the oil market was the biggest asset hit by trade war, which exacerbated the deterioration of the situation. The transaction on the oil market was not calm until Trump's Twitter was issued. The Fed's monetary policy stance did not support the oil market the day before, and was hit by Trump's announcement of tariffs.

Tamas Varga, an analyst at PVM petroleum Union, said that after the US Federal Reserve cut interest rates, the market had an amazing U turn in the relatively positive atmosphere of risky assets. The dollar began to strengthen, and stocks and oil entered a slump.

Victor Shum, a senior partner at IHS, said the oil market was well supplied, and oil demand growth showed signs of global decline as a result of trade conflicts, Britain's departure from Europe and other events that could weaken global economic growth and oil demand. He said that there was a lot of oil and the growth of US crude oil output was strong.

Phil Flynn, senior market analyst at PRICE futures group, said on 1 th that the US economic data is still solid, and the Fed can try to re frame the market's view of interest rate reduction as an adjustment in the middle of the index economic cycle. He believes that the 31 day market fall may be blamed on the expectations of investors before advocating cut interest rates, and the market reaction may also be consistent with the "rumor buying when the fact is sold" trading ideas. Hedge funds began to profit and lock profits when they saw that the chairman of the Federal Reserve did not have a crazy idea of cutting interest rates.

As of the close of the day, the New York Mercantile Exchange delivered light crude oil futures in September, down $4.63, or 7.9%, at $53.95 a barrel. On the same day, London crude oil futures for October delivery fell $4.55, closing at $60.5 a barrel, or 6.99%, Brent.