“China said it would levy an additional 25 percent tariff on imports of 106 U.S. products including soybeans, automobiles, chemicals and aircraft, in response to proposed American duties on its high-tech goods,” Bloomberg reports.
“Matching the scale of proposed U.S. tariffs announced the previous day, the Ministry of Commerce in Beijing said the charges will apply to around $50 billion of U.S. imports. Officials signaled that the implementation of the proposed measures will depend on when the U.S. applies its own after a period of public consultation.”
Playbook: “This could completely dwarf the good news Republicans have celebrated from tax reform and screw up their strategy to use it as the GOP’s main selling point in the midterms.”
CNBC: Stock futures plunged “as concerns over a potential trade war between the U.S. and China intensified.”Save to Favorites