Hours after China struck back at Trump and the U.S. by imposing tariffs on $75 billion of U.S. products, the Dow dropped 400 points. Trump goaded the Chinese with a serious of mad tweets overnight, calling the country an ‘enemy’ and that the U.S. would be ‘better off’ without its leading trading partner.
‘Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far … better off without them,’ Trump tweeted. of the world’s second-largest economy and the U.S.’s top trading partner.
As most people know, China is our #1 trading partner and this tariff war will have devastating effects on American companies that manufacture goods there.
Instead of doing business in China, Trump insisted that U.S. firms bring their companies ‘HOME’ and breezily ordered them to seek ‘alternatives to China’ which he continues to claim ‘rips off the U.S.’
Hang tight because it’s gonna get rocky.