BREAKING NEWS - Trump Does $200 Billion China Tariff
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We have breaking news out of Washington. President Donald Trump has announced another 20 billion dollars in tariffs against China. the China vs US trade war rages on.
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Now this trade war crap is getting out of the way dude, we’re making so much money every day the markets going up huge our stocks are going up huge. I got 12345678 wine bottles in my bank account what exists Hello Trump did ya know now futures have done what are you.
We just managed to get our flapjacks flipped once again the wrong way Trump administration announces a list of tariffs on 200 billion $200 billion dollars in Chinese goods. Once you think just the old things there’s common down with the trade war and the trade tensions and all this stuff is going on the backburner.
Okay, here we go. We’re clear. All of a sudden it creeps right back up in your face like a cold in the middle of winter. The Trump administration on Tuesday released a list of 10% tariffs on $200 billion in Chinese goods making good on the President’s recent threats to escalate a broadening trade war with Beijing.
The $200 billion figure we’re looking at is roughly equal to their export to us a senior administrative official said the tariffs will not go into effect until around August so it gives it around the two month review period.
Some of the products on the list facing tariffs are from the made in China 2025 sectors, the official said made in 2025 is a strategic plan that China wants to be a leader in a bunch of key industries.
Obviously, we spoke about the end use situation that got really ugly it looked like this, this Chinese company ended up stealing a bunch of intellectual property from SMU and now a bunch of different products that m u actually sells are blocked.
It’s only about 1% of their revenue, but still it’s 1% of their revenue. All right. When compiling the list of goods, the US trade representatives took into account what would cause disruptions to the China’s economy.
The official said that the administration has been extremely clear to China in terms of the concerns around trade, but China has been unresponsive for over a year the Trump administration has patiently urge.
China to stop its unfair practices open its market engage in true market competition US trade official said rather than address our legitimate concerns China has begun to retaliate against us products.
The list of the new sanctions follows a warning by Trump that he may implement tariffs on at least $500 billion in Chinese goods all right after the Beijing basically did another 34 billion against United States.
It’s just an ugly gets ugly situation now, as far as futures futures are already tanking. Okay, yeah, I took the screenshot of 5:26pm so we’re over 10 hours away from the markets being open.
The Dow is already down 225 points. s&p is already down 22 and a half points NASDAQ is already down 57 points and you just when you think man maybe this stuff is starting to take a backseat and it has for the last week all of a sudden it creeps right back up in your face.
So basically the five day on the Dow has been phenomenal the Dow Jones and just the past five trading days up over 700 points Okay, up over 3% the NASDAQ in the last five trading days is up nearly three and a half percent.
Everything was just going so good. So good. And now futures are already tanking. Okay, as far as some of the stocks that have already been affected in after hours trading apples, one of them apples down nearly a percent already after hours.
Tesla’s down nearly 2% after hours skyworks Solutions down around 1.7% after hours already we have Google down over a percent after hours m us down over 2% after hours Facebook’s down around A percent after hours why Facebook is is down is like beyond me considering Facebook literally doesn’t even do any business in China.
So it’s just like every time you think this stuff is behind this, it just creeps back up. And so now the question is, you know, when’s China going to go ahead and say that because China’s going to retaliate.
Somehow they’re gonna say, oh, now we’re gonna hit you guys with this, or we’re gonna do this to you or whatever, how is China gonna retaliate? Now this is the problem the US does something.
Then China retaliates then the US threatens again and it sends the market down and a bunch of days in a row whenever this happens, okay, if once it kind of slowed so you know, China does threat the US did its threat and then things kind of cleared out for a while and was like okay.
Things might be okay and then all sudden we get hit with this now, markets are taking a nosedive China’s probably gonna retaliate somehow and say, oh, we’re gonna do this to us is gonna say if you do that.
We’re gonna do this again. It’s just a big mess guys, but uh, it’s an interesting time to be in the stock market and you know, it’s producing a lot of good deals out there. That’s the good thing about this.
When you when you have situations like this come up and produce a lot of good deals and a lot of companies On the flip side, of course, it sucks because, you know, markets are starting to finally move on.
We’re starting to make some money in the markets, you know, across the board, the majority of stocks are up the last, you know, let’s say five trading days, you know, a lot of people making a lot of money out there.
That’s fun. And then also you get hit with this again. And now it’s like, where do we go from here? So it’ll be a very interesting day in the markets tomorrow to see how bad the markets take.
This is a day where we’re down like 200 points of sale, that’s not too bad, or there’s going to be a day tomorrow when we’re down. 400 plus points. That’s a bigger question. I think a lot of it will come out to come down to whether China comes out and you know, nails us with a big retaliation threat out there.
If they do that. Maybe it’s a day where we’re down 400 Plus, we’re just gonna have to wait. Once again, eventually, what’s gonna end up happening is this whole deal, you know, people are going to stop caring about it.
And you know, as far as fund managers go, the ones that kind of dictate where the stock market goes up, eventually, it’s no different than North Korea situation that you know, last year, you know.
There was all these nuclear war threats and blah, blah, blah, and it was going back and forth. And it would, you know, make the market move huge on a date on a downward day, and then eventually still, like threats were being made and yet the market stopped caring about it like the markets will start going up.
So it’ll be interesting to see if that happens. But as of right now, it looks like it will be an ugly day tomorrow. So should be some good deals out there. Anyways, let me know what your guy’s opinion is on this in the comment section.
I would love to hear from you guys. As always hope you enjoy that skit at the beginning. Thank you for watching. Have a great day.