Dow Jones Industrial Averageplunged 3.5%. US stocks are poised to open higher on Tuesday. Futures on those indexes are up at least 0.3%.China plans to raise duties on around $60 billion of American imports on June 1, in retaliation to the US raising tariffs from 10% to 25% on $200 billion of Chinese imports on Friday.
The Trump administration is preparing to expand tariffs to a further $300 billion of Chinese goods, although the president hasn't ruled out a trade deal and plans to meet his Chinese counterpart at next month's G-20 summit.according to Bloomberg"Markets are likely to take Trump's words with a few pinches of salt, given the many situations in the past which have not resulted in the easing of trade tensions," said Lukman Otunuga, a research analyst at FXTM.
I honestly would not accept that China does not have a deal lucrative enough on the backburner that enables them to play hardball with the US like this
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