In response to new tariffs from China, President Trump is making some demands of American companies.
After China announced Friday that it would be hitting the U.S. with tariffs on $75 billion worth of goods next month, Trump tweeted that "our great American companies are hereby ordered to immediately start looking for an alternative to China." The president is also demanding that business owners "bring ... companies HOME" and make products in the U.S., declaring the situation to actually be "a GREAT opportunity for the United States."
Trump's demand is seemingly more of a strongly-worded suggestion, with The Washington Post's Josh Dawsey noting, "What authority does the president have to order companies to do things?" If Trump has an answer to that question, he might attempt to provide it in a few hours, as he also promises in his tweets that he "will be responding to China's tariffs this afternoon."
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The president's initial reaction following the news of China's retaliatory tariffs was to wonder aloud whether Chinese President Xi Jinping or Federal Reserve Chair Jerome Powell was the "bigger enemy" to the United States. The Dow Jones Industrial Average fell more than 400 points amid his tweets.
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