US markets set to plunge after China announced a fresh set of tariffs on $60 billion worth of US goods, hours after President Trump warned the nation against retaliating against US tariffs
In a series of tweets, Trump, whose top economic adviser spent the weekend trying to defuse the trade war and demonstrate that trade negotiations between the two countries were proceeding, took aim at China, writing that the country wants"to make a deal so badly" because the trade war is causing it to lose business to"Vietnam and other such countries in Asia." "There will be nobody left in China to do business with.
"The President's tweets come a day after Larry Kudlow, the White House's top economic adviser, told Fox News that there is a"strong possibility" Trump will meet with Chinese President Xi Jinping at the G20 economic summit in Japan next month, but noted that he expects China to retaliate against the US for its recent increase in tariffs on Chinese goods as Beijing has indicated it would.
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