Trump Vows Huge New China Tariffs As Markets Nosedive [Barron's]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Barrons
Trump upended the world economy last week with sweeping tariffs that have raised fears of an international recession and triggered criticism even from within his own Republican Party. In response to Trump's tariffs, Beijing -- Washington's major economic rival -- unveiled its own 34 percent duties on US goods to come into effect on Thursday. The US president on Monday chastised China for not heeding "my warning for abusing countries not to retaliate." He said on social media that if China did not immediately back down "the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th." With the incoming 34 percent rate and new 50 percent threat, the total additional tariffs this year could hit 104 percent, the White House told AFP. Stock markets and oil prices collapsed further, as trading floors across the world were overcome by waves of selling after last week's sharp losses. Wall Street was wracked by volatility, bouncing into positive territory on
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