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

US President Trump announced that it will impose a 10% tariff on China’s $300 billion in US exports on September 1 and the Fed’s interest rate cuts are lower than expected. International oil prices maintained their downward trend after the previous trading day in the morning. In the afternoon, the price of oil was plunged because of Trump’s announcement of tariffs.

Trump still said that he is looking forward to continuing dialogue with China on the comprehensive trade agreement. China and the US ended their two-day trade talks in Shanghai on Wednesday. Neither side announced any breakthrough. The Chinese side said the talks were constructive and said that the next round of talks will be held in the United States in September.

After the Federal Reserve cut interest rates, last night US stocks were reliable until the early hours of the morning, and the Dow once rose more than 300 points. However, the good times did not last long, the US stocks quickly dive in the afternoon, and the Dow once fell more than 300 points. At the close of the day, the three major US stock indexes closed down. The Dow fell nearly 300 points, down 1.05%, the Nasdaq fell 0.79%, and the S&P 500 index fell 0.90%.

Previously, Trump included tungsten and molybdenum products in the tariffs imposed in July.

Analysis of latest tungsten market from Chinatungsten Online

The tungsten powder and ferro tungsten prices in China remained weak adjustment as the demand is difficult to improve in the off season. But supported by tightening availability of raw materials and decreased profits of smelting factories, sellers try to stabilize current offers despite of down stream’s requirement of lower prices and companies’ pressure of price inversion.

Henan is an important province of tungsten and molybdenum resources in China, and the province aims to take advantages to build a strong non-ferrous metals industry. In 2018, Henan molybdenum concentrate production accounted for 35.53% of the country's total output. The reserves and output of tungsten ore resources are among the best in China.

The neodymium oxide, praseodymium oxide and cerium oxide prices still maintain stability on weak demand and low trading activity at the end of July. Now most traders take a watchful stance.