Futures on the S&P 500 index tumbled, signaling a punishing start to the week on Wall Street after Trump tweeted a plan to hike tariffs on Friday. From JD.com and Skyworks to Apple and Caterpillar, tech companies with China exposure and machinery companies -- which are seen as proxies for the trade war -- were among the biggest decliners in early trading. The VIX gauge of stock volatility headed for its biggest increase this year.Commodities were roiled.
Seeking to ramp up pressure on China for more concessions, Trump threatened in two tweets to more than double tariffs on $200 billion of Chinese goods and impose a fresh round of duties on top of that. Talks to resolve the year-long trade standoff appeared to be on life-support Monday, with Beijing struggling to fully respond. China’s foreign ministry said that officials were still planning to travel to the U.S.
Kick China out of the WTO until they start prosecuting the millions of knockoff and ripoff companies which flood markets with stolen designs and products. China shouldn’t have access to world markets until they get serious.
Chinese envoys are preparing to travel to the United States, suggesting talks on ending a bruising tariff war will go ahead despite Trump's surprise threat to raise import taxes.
docrocktex26 I guess we are now seeing what else Vladimir Putin instructed his minion Trump to do. Get America & China into a costly trade war would please Putin greatly.
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Source: MarketWatch - 🏆 3. / 97 Read more »