The president retaliates against China's announced tariffs.
Trump also demanded UPS, FedEx, Amazon, and the Postal Service search their shipments to prevent fentanyl from entering the U.S.China's announced tariffs on $75 billion of American goods and cars, by demanding FedEx, UPS, Amazon and the Postal Service"immediately start looking for an alternative to China," causing the Dow to drop 400 points, while the S&P 500 and NASDAQ slid over 1.5%.
Trump also demanded UPS, FedEx, Amazon, and the Postal Service search their shipments to prevent fentanyl from entering the U.S. The Chinese tariffs will go into effect in two batches: one on September 1, and the other on December 15. “In response to the measures by the U.S., China was forced to take countermeasures,” said the Chinese State Council in a statement Friday., and the Dow dropped 100 points after the Council’s announcement, before recovering slightly on positive remarks from the Federal Reserve's annual meeting.
Trump tweeted, “The Economy is strong and good, whereas the rest of the world is not doing so well,” right before the Council’s announcement.
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