Not only did the Trump Administration announce further trade tariffs today, they announced it would be to the tune of 60$ Billions dollars on products solely from China.
While some are calling this economic aggression, Donald Trump said “They charge us, we charge the same thing” while bringing up the point that China has a much higher tariff on American cars than Americans do on Chinese cars.
Back in Aug 2017, the US initiated an inquiry into whether or not China had committed intellectual property theft.
Today, the President announced these new sanctions against the country for stealing US intellectual property.
To say this news had a negative effect on the stock market, well… would only be natural. It’s never encouraging to hear two of the world’s largest economies talk of a trade war.
Hopefully this is be another of example of the US President Donald Trump antagonizing ‘opponents’ under the guise of protecting the US. He also recently recanted some of the recently imposed steel and aluminum tariffs to the European Union, Brazil and South Korea amongst others.