China Preparing $60B Tariff Retaliation on U.S. Goods

U.S. President Donald Trump is attempting to impose duties in order to force China to abandon their alleged unfair practices and potentially reach a new trade deal. Press Secretary Sarah Sanders responded to the latest tariff threat from China on behalf the Trump administration.

“Instead of retaliating, China should address the longstanding concerns about its unfair trading practices, many of which are laid out in USTRs 301 report,” Press Secretary Sarah Sanders said.

With trade wars looming, the markets forged on with the Dow led by IBM and Pfizer both gaining 4% collectively. The Nasdaq was propped up by Take-Two Interactive Software gaining 11.8% and Kraft Heinz Co gaining 8.1%.

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