International

DEVELOPING: Stock Market on Edge as China Unveils New Tariffs on US Goods

posted by Hannity Staff - 5.13.19

The US stock market was rattled Monday morning after China unveiled more than $60 billion on American-produced goods; announcing the new taxes after trade negotiations with the Trump administration stalled in recent days.

“After trade talks broke up later in the day, U.S. officials said they were preparing to expand those tariffs to cover another $300 billion of goods, covering most imports from China,” reports Fox News. “The back-and-forth between the two nations is wreaking havoc in global equity markets, with some investors speculating that a deal may not happen at all.”

“I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!” posted the President on social media.

Read the full report here.