Headline Roundup August 23, 2019
Trade War With China Escalates
Summary from the AllSides News Team
Featured Coverage of this Story
Associated Press
Stocks tumbled on Wall Street after President Donald Trump said he “hereby ordered” U.S. companies to consider alternatives to doing business in China. He also said he would respond to Beijing’s latest tariff increase later Friday.
The Dow Jones Industrial Average sank nearly 500 points after the president made the announcements on Twitter.
Trump also said he was “ordering” UPS, Federal Express and Amazon to block any deliveries from China of the powerful opiod drug fentanyl. The stocks of all three companies fell as traders tried to understand what the...
President Trump meets with Chinese President Xi Jinping during the Group of 20 summit in Osaka, Japan, in June.
For all of his bluster about the strength of the economy and his purported role in guiding the country to new highs, President Trump is worried.
With its announcement on Friday of new 5-10% tariffs on $75 billion in U.S. goods, China is escalating pressure on President Trump. Xi Jinping senses that Trump is increasingly desperate for a trade deal. He believes he can cajole Trump into making a more China-friendly trade deal.
Trump's response on Friday has been mixed.
While his latest attack on Federal Reserve Chairman Jay Powell — questioning whether Powell is more of an enemy than Xi Jinping — is idiotic, Trump is right to point out the central threat of Chinese...
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