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tinyfav.com April 21, 2018


Stocks falter on growing trade war fears

08 April 2018, 01:14 | Myrtle Vega

UKFinancial markets have been affected by the US-China dispute

UKFinancial markets have been affected by the US-China dispute

Re "How trade wars end - and why Trump's will be different" (April 4): Donald Trump would be absolutely no good at chess.

The Dow Jones industrial average lost 572 points by the close, shedding 2.3 percent. That's why China answered Trump's tariffs with a slew of its own taxes, and why Trump subsequently threatened to impose an additional $100 billion in tariffs on Chinese goods. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair.

Trump imposed the first set of tariffs on Chinese goods to punish the country for intellectual property theft that he says has caused the USA economic damage.

Finally, the yield on the benchmark 10-year U.S. Treasury note fell 5 bps to 2.78%, Comex gold gained 0.6% to $1,336.10/oz. and U.S. WTI crude oil closed 2.3% lower at $62.06/bbl. President Donald Trump upped the ante late Thursday with a threat to slap tariffs on a further $100 billion of Chinese exports.

China will continue reforms and promote trade and investment liberalization, he said. We were badly represented.

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"So we may take a hit and you know what, ultimately we're going to be much stronger for it", Trump said.

"If the United States disregards the objections of China and the worldwide community and persists in unilateralism and trade protectionism, the Chinese side will follow through to the end, at any cost, and definitely fight back resolutely", a spokesperson was quoted as saying.

Despite Trump's threats for more sanctions, he has insisted the U.S.is not engaged in a trade dispute with the Asian nation.

Meanwhile, the nationalist Global Times said in an editorial published late on Thursday that the "Chinese are aware that the only option now is to hit the United States hard enough so that it will remember the pain".

USA stocks also were affected this past Monday by Trump's new verbal attack on giant online retailer Amazon.



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