Tired of winning - Part 2

Trump has threatened to impose a 10% tariff on $300bn in Chinese goods starting 1 September, in addition to those already being penalized, if there is no new trade deal.

[...]

Moody’s Investors Service swiftly warned that the extra tariffs would prove to be an economic burden amid “decelerating growth”.

[...]

Within moments of Trump’s announcement of the threat of new tariffs, stocks and oil prices plunged.

  Guardian

Well done.

The footwear distributors and retailers of America trade association said the tariffs could also have a chilling effect on hiring.

“President Trump is, in effect, using American families as a hostage in his trade war negotiations,” the group’s president, Matt Priest, said in a statement.

[...]

“We are disappointed the administration is doubling down on a flawed tariff strategy that is already slowing US economic growth, creating uncertainty and discouraging investment,” said David French, senior vice-president for government relations at the National Retail Federation.

“These additional tariffs will only threaten US jobs and raise costs for American families on everyday goods,” he added.

Double-down Don. That's his name. That's his game.

Oil prices fell 7%, with the international benchmark Brent crude registering the biggest daily percentage drop since February 2016. On Wall Street the S&P 500, which had been in solidly positive territory on Thursday afternoon, closed down 0.9% while the Dow Jones industrial average shed 1%.

In Asia, the Nikkei index in Tokyo dropped 2% at the opening on Friday morning and in South Korea the Kospi fell 1.3%.

And I haven't forgotten that he has been telling us all along that China had already agreed to buy lots and lots of US agricultural product.









Now, he admits that didn't happen.

So much winning.