China announces tariffs of 34% on all US goods in retaliation

• To impose tariffs of 34% on all US goods
• Additional tariffs will go into effect starting from 10 April
• Adds 16 US entities to export control list
• Additional restrictions on some rare earths related items

Risk sentiment is taking a further knock on the day on the headlines here. S&P 500 futures are now down 1.4% and 10-year Treasury yields have plunged to 3.90% – down 15 bps on the day. USD/JPY has also dropped back to under 146.00 at the moment.

This article was written by Justin Low at www.forexlive.com.