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Latest Breaking News
Showing Original Post only (View all)Stocks sink on Trump tariff announcement [View all]
Source: The Hill
U.S stocks sunk Thursday moments after President Trump said hed would set tariffs on steel and aluminum next week.
Trumps abrupt announcement sent the Dow Jones industrial average down 330 points (1.3 percent) shortly after 1 p.m. The Nasdaq and S&P 500 also fell roughly 1 percent each.
Trump said he will announce tariffs of 25 percent on imported steel and 10 percent on aluminum from all countries that send their metals to the United States, a decision sure to lead to retaliation by trade partners.
The tariffs are an effort to bolster the U.S. steel and aluminum industries, which Trump pledged to revive on the campaign trail.
Read more: http://thehill.com/policy/finance/376280-stocks-sink-on-trump-tariff-announcement
He and his cronies will destroy the economy yet.
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This is what happens when you arbitrarily flail with tariffs instead of entering trade agreements.
SunSeeker
Mar 2018
#5
When the new steel mills are brought online with workers from immigrant detention centers ...
mr_lebowski
Mar 2018
#17
2nd longest expansion in US history overseen by Obama. Now, Trump Slump. . . . nt
Bernardo de La Paz
Mar 2018
#14
First solar power sales with 30% tariff, now 24% tariff on steel and 10% on Aluminium...
iluvtennis
Mar 2018
#20