Thursday, President Trump said he may raise US tariffs on Chinese goods beyond 25% if trade negotiations with Beijing remain stalled.
President Trump told reporters that the new 10% tariff he announced Thursday for $300-B in Chinese imports beginning 1 September will be imposed for a short term and could go up or down after that.
Chinese President Xi is not moving fast enough to resolve the trade dispute with the US, President Trump told reporters as he departed the White House for a campaign rally in Cincinnati. “Frankly he is not going fast enough.”
The US will be taxing China until a suitable deal is forged, till then China will bleed.
President Trump also said he’s “not concerned at all” that stock markets dropped after his announcement of the new tariffs. “I expected that a little bit.”
Thursday, the major US stock market indexes finished at: DJIA -280.85 at 26583.42, NAS Comp -64.30 at 8111.13, S&P 500 -26.82 at 2953.56
Volume: Trade on the NYSE came in at 1.1-B/shares exchanged
- NAS Comp +22.2% YTD
- S&P 500 +17.8% YTD
- Russell 2000 +15.0% YTD
- DJIA +14.0% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Neutral to Bullish in here.