Trump Retaliates with Tariffs on All Goods from China, Much at 30%

-edited

In a major escalation of the trade war, Trump lashed out at China.

Market Reaction (Before the Above Tweets)

  • S&P 500: Down 75 Points, -2.6%
  • Nasdaq 100: Down 242 Points, -3.2%
  • DOW: Down 623 Points, -2.4%

Looking for Whom to Blame?

I can help.

This may be related to Seth Moulton, "whoever that may be".

There is no other rational explanation.

I almost forgot: "Thank you for your attention."

Mike "Mish" Shedlock

Comments (99)
No. 1-20
2banana
2banana

Well then.

Game On!!!

China doesn't know what to do. They keep expecting an historical weak obama-bush-clinton president to apologize and bend America over (again).

Support for the HK riots. Food riots coming to mainland China. Sell so many weapons to Taiwan until the island is about to tip over.

An economy that can't feed itself, is export driven and must have 7%+ growth rates/year in order to keep its population busy and not plunge into turmoil.

AWC
AWC

Might be, that a Country with 2.3 million active duty troops in its military, is capable of “Foraging “ for necessary food sources? And, considering our military successes in Afghanistan, Iraq and other backward entities, a shooting war with China should be as easy to win as a trade war, no?

Aaaal
Aaaal

And Trump-in-the-box will cancel tariffs next week. Damn flip-flopper in chief.

jay2mic0
jay2mic0

I wonder where China would be, if the failed USA Congress knew how to balance Uncle Sam's checkbook. Due to the past and present Administration and Congress' inability to balance the budget, we the USA have to rely on China to float our debt. Currently, China holds $1.1125 TRILLION of Uncle Sam's debt.

So, how much of the American worker's payroll federal tax withholdings goes to support China (interest payment on the debt holdings) with the administration and congress' blessing?

Casual_Observer
Casual_Observer

Trump is trying to jawbone the markets down in hopes of them going up next year. He actually needs a recession now a recovery next year but I'm starting to forecast that once a recession does happen, there will be no recovery.