Sandy Shanks
Gold Member
- Jul 10, 2018
- 3,550
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- Banned
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Trump's trade war with China just took a turn for the worst.
Trump said Thursday of last week that the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods, effective Sept. 1. His announcement resulted in stocks worst week of 2019 amid renewed investor fears about his trade dispute with China.
That was last week.
This week, China retaliated. China, which has historically controlled its currency, the yuan, allowed it to fall on Monday to its lowest level against the dollar in more than a decade.
"Stocks fell sharply Monday as a trade war between the world’s largest economies intensified with China retaliating against President Donald Trump’s latest move. The move continues a sell-off that began last week when President Trump ordered new tariffs on the rest of Chinese goods."
“Now we have a trade situation that is going off the rails as the side effects multiply due to the ramping up of the use of tariffs and we are only further apart from any resolution with the Chinese,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “The policy of using tariffs as a tool to address our legitimate beefs with the Chinese has failed miserably.”
Dow plunges 760 points in worst day of 2019 as trade war intensifies
Millions of Americans permanently lost millions of dollars in their savings plans last week and now today.
Last week was the worst week of the year, now the worst day.
"Goldman Sachs warned clients on Monday that a trade agreement "now looks far off" because officials in Washington and Beijing are "taking a harder line."
"The Wall Street firm said the most likely outcome is that no deal will be reached before the 2020 election and that President Donald Trump's threatened 10% tariffs on $300 billion of US goods will remain in place on Election Day."
Goldman Sachs thinks the trade war will drag on until after the 2020 election - CNN
Thank you, Mr. President. Have you considered resigning?
Trump said Thursday of last week that the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods, effective Sept. 1. His announcement resulted in stocks worst week of 2019 amid renewed investor fears about his trade dispute with China.
That was last week.
This week, China retaliated. China, which has historically controlled its currency, the yuan, allowed it to fall on Monday to its lowest level against the dollar in more than a decade.
"Stocks fell sharply Monday as a trade war between the world’s largest economies intensified with China retaliating against President Donald Trump’s latest move. The move continues a sell-off that began last week when President Trump ordered new tariffs on the rest of Chinese goods."
“Now we have a trade situation that is going off the rails as the side effects multiply due to the ramping up of the use of tariffs and we are only further apart from any resolution with the Chinese,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “The policy of using tariffs as a tool to address our legitimate beefs with the Chinese has failed miserably.”
Dow plunges 760 points in worst day of 2019 as trade war intensifies
Millions of Americans permanently lost millions of dollars in their savings plans last week and now today.
Last week was the worst week of the year, now the worst day.
"Goldman Sachs warned clients on Monday that a trade agreement "now looks far off" because officials in Washington and Beijing are "taking a harder line."
"The Wall Street firm said the most likely outcome is that no deal will be reached before the 2020 election and that President Donald Trump's threatened 10% tariffs on $300 billion of US goods will remain in place on Election Day."
Goldman Sachs thinks the trade war will drag on until after the 2020 election - CNN
Thank you, Mr. President. Have you considered resigning?
