Trump orders China tariffs of $50 billion or more; Dow falls 723 points

[workinclasszero]

Trump orders China tariffs of $50 billion or more; Dow falls 723 points
Updated 3:09 PM; Posted 3:07 PM

By Bloomberg News

President Donald Trump took his boldest step to level the economic playing field with China, ordering sweeping tariffs on Chinese goods in a move that could escalate already tense trade relations between the world's two biggest economies.

Stocks fell sharply on the news. The Dow Jones industrial average closed down 723 points, 2.9 percent, at 23,958. The Nasdaq dropped 2.4 percent, and the S&P 500 fell 2.5 percent.

The president instructed U.S. Trade Representative Robert Lighthizer to levy tariffs on at least $50 billion in Chinese imports. Trump signed an executive memo issuing the instructions on Thursday at the White House. Within 15 days, USTR will come up with a proposed list of products that will face higher tariffs.

http://www.oregonlive.com/business/index.ssf/2018/03/trump_orders_china_tariffs_of.html

[Cattledog]

1. If you are a soybean farmer in the midwest better think about switching crops.

Won't be selling any in China.

[workinclasszero]

4. Yeah I think farmers in Trump country

better buckle up. If they think China and the rest of the world is gonna kick back and take a one sided trade war with Bone Spurs they are crazier that I thought!

[BigmanPigman]

2. Geez, the market is like a roller coaster these days.

Up and down 500 points a day for the last month. The Fucking Moron has killed this country. Putin is thrilled.

[Ilsa]

3. His investment in IQ45 is paying off. nt

[workinclasszero]

7. Putin is getting a super high return on that investment/blackmail

No doubt about it!

[workinclasszero]

6. And the republicans have exploded the deficit on top of it!

Much higher that President Obama ever did.

Those republican deficit hawks are a real JOKE!

[BigmanPigman]

12. It is going to take 20 years to undo the damage this fucking moron has done and

he is still solidly in office and will remain there creating more havoc. Each day counts since this monster is running his reality TV show as the fake prez now. We are all living in this reality TV show Hell known as his nightmare presidency.

[workinclasszero]

13. In my dreams we take back the House and the Senate in the midterms

then impeach the Orange Shitgibbon for treason, bribery and other numerous high crimes and misdemeanors...then...convict in the Senate and remove him from office in chains!!

[Ilsa]

5. Futures down 86. I suspect it will continue downward

Tomorrow unless something is announced making the tariff less costly.

[workinclasszero]

9. Boy people with 401Ks in the market

must be getting slaughtered.

[Ilsa]

14. I have one, but very little of my money is invested

right now.
And the futures are looking worse: down 175 when I checked a minute ago.

[workinclasszero]

15. I had a modest one till Bush Jr wiped it out back in the 90's

Now the cycle repeats with another republican destroyer of the economy.

Will this country ever learn?

[smirkymonkey]

8. Nice going, fucktard!

You are a real genius at this economy thing. We are all so very impressed.

[workinclasszero]

11. Just remember...

[onecaliberal]

10. Is this what all the farmers who voted for dump had in mind to make America great?

Their going to be lucky not to lose it all.