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U.S. stock futures plunge as Donald Trump threatens to unleash a fresh round of tariffs on $200 billion worth of goods from China; the Trump administration reportedly tells Apple CEO Tim Cook that it wouldn't place tariffs on iPhones, which are assembled in China.
China may soon run out of U.S. imports to target in a 'tit-for-tat' trade war, meaning industrial policy changes could be the next response from Beijing as President Donald Trump continues to press for a reduction in the country's $375 billion surplus.
The markets are in store for a rocky session on Tuesday as investors consider their global exposure. Welcome to the summer of trade war fears.
President Donald Trump's latest trade war threat has global stocks on the ropes Tuesday and Wall Street looking at a 400 point opening bell decline.