US Pres. Trump: Will prohibit federal contracts to companies that outsource to China

US President Donald Trump said on Monday that the US will prohibit federal contract to companies that outsource to China, as reported by Reuters.

Trump further noted there was a possibility of decoupling the US economy from China and said: "It would not lead to monetary losses."

Market reaction

US markets are closed due to Labor Day holiday on Monday and it's difficult to assess the impact of these comments on market sentiment. Meanwhile, the US Dollar Index, which remains on track to close the fifth straight day in the positive territory, was last seen gaining 0.1% on the day at 93.06.