President Trump on Thursday said he'll impose a new 10 percent tariff on $300 billion in Chinese goods beginning in September, prompting the Dow to take a tumble.
Trump on Twitter wrote that U.S. representatives returned from China having had "constructive" talks about a trade deal but that this "small additional tariff" will go into effect next month while negotiations continue. After a hike from Trump in May, about $250 billion in Chinese goods was affected by a 25 percent tariff, and so this "would essentially tax all Chinese products sent into the United States," writes The New York Times.
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