Tariff wars reach dizzying heights. Donald Trump slaps taxes on China worth $200 billion of Chinese goods. Beijing vows to hit back but faces another round of tariffs if it retaliates. The US president announced the tariff in the statement saying if China takes action against our farmer industry. We will immediately pursue phase three which is a tariff of approximately 267 billion on additional import. The tariff will start at 10% beginning Monday of next week and then rise to 25%. The US president blamed unfair policies for this escalation.
Peter Cardillo Of Spartan Capital Securities LLC shares his view on Trump’s trade war.