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President Trump issued a new ultimatum to China to rescind its retaliatory tariffs on the United States, or face additional tariffs of 50 percent beginning Wednesday.
President Trump on Monday issued a new ultimatum to China to rescind its retaliatory tariffs on the United States, or face additional tariffs of 50 percent beginning Wednesday. The threat came as Wall Street swung wildly, with the S&P 500 briefly entering bear market territory.
President Trump’s trade war made investors increasingly pessimistic about the economy but he defended his global tariffs, saying those in place had already brought the United States billions of dollars in revenue. He also said that he would cease negotiations with China unless it withdrew its tariff plans.
