Futures Tank as Trump Proposes $100 Billion More China Tariffs

China retaliated on $50 Billion worth of tariffs, so Tump slammed China with another $100 billion.

The market? Who gives a damn what the market thinks?

After a decent rally today, the futures are deeply in the red this evening on news Trump Proposes $100 Billion More in Tariffs on China.

U.S. President Donald Trump said in a statement on Thursday that he has instructed U.S. trade officials to consider $100 billion in additional tariffs on China “in light of China’s unfair retaliation” against earlier U.S. tariff actions.

The statement said the U.S. Trade Representative has determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property.”

Message of the Day

The message for the day, as noted earlier and re-emphasized this even is Soybeans, Cars, Planes, and "To Hell With Wall Street".

China Response?

How will China respond?

It will not be by dumping treasuries. For discussion, please consider Understanding the Trade "Nuclear" Threat, China Dumping Treasuries.

Mike "Mish" Shedlock

Comments (65)
No. 1-25
Tengen
Tengen

Will be interesting to see if the PPT can mash the "buy" button enough to keep things green under these circumstances. Oh, they'll need to keep hammering gold and silver too, but that goes without saying.

Carl_R
Carl_R

This hurts Americans two ways. First, their costs will rise - the Fed wanted 2% inflation, they may get more than that. Secondly, this will probably kill the market, which in turn will tank 401k plans.

2banana
2banana

We went from -450 to +250 a few days ago on the kind same news...

Mike Mish Shedlock
Mike Mish Shedlock

Editor

I am unsure of Short-Term consequences - we find out tomorrow, but this is bad news as long as it lasts

Six000mileyear
Six000mileyear

I've been following the US and German markets very closely. The past 2 weeks both traced out Elliiott Wave patterns (flats) that indicate the markets would top today/tonight. I have the added benefit of a spectral analysis tool I developed over the years. This tool gave a warning 2 weeks ago THE top was in since one major cycle was entering its steepest descent, and its little brother had just topped. These two cycles were responsible for the Dot Com and housing bubbles, so a market crash is underway.