Stock futures pointed to sharp losses on Monday after China said it would raise tariffs on $60 billion in goods from the U.S. in retaliation for the recent hike in duties on Chinese goods.
Trump said on Saturday that China should act now to make an agreement — or it would risk facing a worse deal if negotiations continue into a possible second term after the 2020 presidential election.
Trump also tweeted on Monday that China has “taken so advantage of the U.S. for so many years, that they are way ahead . Therefore, China should not retaliate-will only get worse!” U.S. equities fell sharply last week after Trump threatened to hike tariffs on China. Trump followed through on his threat, raising levies from 10 percent to 25 percent on $200 billion worth of Chinese goods.
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