USA vs China Trade War Is ON ! China 'would fight to the end' of a trade war
Today Dow Jones fell over 700 points after President Donald Trump on Thursday signed an executive memorandum that would impose tariffs on up to $60 billion in Chinese imports. As he signed Thursday's memo, Trump said, "This is the first of many" trade actions.
Of course China, as an economy that is going to be twice as big as US economy by 2030, is not happy with the current state of events. They firmly oppose the tariffs and "will find to the end". Markets also did not like the yesterday statement from J. Powell (The FED chairman)
According to Matt Schreiber
The market doesn’t like trade wars, the market doesn’t like that the Fed is adamant about raising rates
We are very close to the lows from early february (which coincides with the Bitcoin lows). Currently we are above the 200 SMA and traders are looking closely if we are going to hold that level again. Last time we bounced extremely aggressively off it.
What are your thoughts on this ? Do you think Trump is doing something good or all of this is not necessary ? Tell us what you think in the comments below :)
Todays global trade is so complex that markets are confuced and take precutionary withdrawl to offset any outfall, this evantually create panic in market and cuse the crash. However i dont see any trade war between China and US as it is not in intrest of both countries. China need growth and US is the biggest customer of China. By imposing taxes on imports from China goods US is boosting inflation into its economy which is not good. Trump administration is unpreditcable they want attention of voters to show them that we blocked china you go produce your own. Which is very difficult and pricy now.
They sure are unpredictable. China is holding the US for the nuts and I don't know what will be the effect on such a trade war. For now it is definitely not good for the stock market but who knows.
thanks for commenting :)
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