Futures Tank as Trump Proposes $100 Billion More China Tariffs
The market? Who gives a damn what the market thinks?
After a decent rally today, the futures are deeply in the red this evening on news Trump Proposes $100 Billion More in Tariffs on China.
U.S. President Donald Trump said in a statement on Thursday that he has instructed U.S. trade officials to consider $100 billion in additional tariffs on China “in light of China’s unfair retaliation” against earlier U.S. tariff actions.
The statement said the U.S. Trade Representative has determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property.”
Message of the Day
The message for the day, as noted earlier and re-emphasized this even is Soybeans, Cars, Planes, and "To Hell With Wall Street".
How will China respond?
It will not be by dumping treasuries. For discussion, please consider Understanding the Trade "Nuclear" Threat, China Dumping Treasuries.
Mike "Mish" Shedlock