Secretary of Commerce Carlos Gutierrez announced Friday that the U.S. would reverse policy and impose duties on Chinese imports, beginning with coated papers. On a week when the U.S. dollar dropped against all major currencies, what does the tariff herald for the second quarter? Two currency experts gave their views to CNBC's Bill Griffeth.
Rebecca Patterson, global currency strategist at J.P. Morgan, said that Gutierrez' announcement "isn't about the currency, it's about the [Chinese] paper" -- and said that the issue had been "brewing for months." Speaking on "Power Lunch," she maintained that -- despite nationalist rhetoric -- protectionism isn't about campaign politics, "it's about economics."