Just when you thought it was safe to BTF Trade War Dip, a headline hits to remind you that President Trump is anything but done with China.
The new list marks the latest escalation of the trade war between the world’s two biggest economies.
And judging by the reaction in stocks and the yuan, it appears that the market's brilliant extrapolation of "no more trade wars" as a result of a 3 days silence (of which 2 was during the weekend) may have been wrong.
As Asia markets open, Dow Futs are down around 300 from the closing highs.
The US has released the list of $200 billion in Chinese products that could be subject to an additional 10% tariff, fulfilling President Trump's promises for further escalation of the burgeoning trade war between the US and China. Meanwhile, a senior US official reportedly told CNBC that China isn't seriously negotiating on trade, suggesting that the hoped-for negotiated settlement might not materialize - at least not anytime soon.
Read the entire article