WTF is President Trump doing! The President is proposing another $100 billion in new tariffs in retaliation to China's retaliation.
The Dow futures are at -241.
This is a crazy, and dramatic, development. The markets waived off the previous FUD and was calmed by Larry Kudlow, and then BAM!
The President has also said the EU is not treating the US fairly so let's hope he is not going after the EU.
My Apple which closed up $1.19 is now down $3.21 after hours. This guy is killing me.
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Added to the last $50 billion it is more than the $130 billion China exports to US. And that does not count tariffs already applied to solar panels and washing machines and steel and aluminium.
Edit: Data error. US exports $130 billion. Deficit with China is $395 billion. Some way to go http://www.worldstopexports.com/americas-top-import-partners/
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Thanks for commenting. This is all madness, China is saying today that "we have a higher tolerance to survive a trade war." I believe that. Followed and upvoted.
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