Category: Trucking News

Stocks are getting whacked as Trump moves toward an all-out trade war with China

President Donald Trump on Monday threatened an all-out trade war with China by announcing the possibility of tariffs on an additional $200 billion worth of Chinese goods. US stocks were set to tumble at Tuesday's open the morning after President Donald Trump threatened an all-out trade war with China. The S&P 500 was set to open lower by about 1% after heavy overnight selling dropped China's Shanghai Composite (-3.78%) to its lowest level in two years.


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Explainer: What can Beijing do if China-U.S. trade row worsens?

Explainer: What can Beijing do if China-U.S. trade row worsens?

China and the United States sank into a deepening trade conflict that roiled financial markets Tuesday after U.S. President Donald Trump threatened to impose tariffs on an additional $200 billion of Chinese products, prompting Beijing to accuse Washington of starting a trade war. Trump said Monday his threat was retaliation for China's decision to raise tariffs on $50 billion of U.S. goods over the weekend, a move that itself was in response to additional U.S. tariffs on Chinese products announced Friday. The sheer size of Trump's latest threat makes it impossible for an in-kind response from China since the value of the goods involved exceeds by $70 billion the total value of U.S. imports to China last year, U.S. data shows.


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China stocks sink as Trump's fresh trade threats herald 'darkest hour'

Shanghai stocks tumbled nearly 4 percent on Tuesday to a two-year low, while the yuan fell to a more-than-five-month low against the dollar as Washington's fresh tariff threats against China raised the specter of a full-blown trade war. The equity slump, which comes despite a surprise liquidity injection by the central bank, risks triggering a downward spiral that could derail Beijing's bid to lure large international listings, particularly from high-tech giants. Meanwhile, the yuan weakened to a low of 6.4754 in afternoon trade, the weakest since Jan. 12, while China's benchmark 10-year treasury futures jumped, as bond yields fall.


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