CHINA FIRES BACK MARVELOUS MONDAY WOAD 05/13/19
Well its offical we have a trade war with China! Beijing announce this morning that it will raise tariffs on 60 billion in U.S. goods in retaliation for the U.S, goverments decision to raise tariffs to 25% on 200 billion in Chinese goods. Tariffs will be raised as much as 25% on 5000 products, duties on some other products will raise to 20% some of which are currently 5 to 10% the increases will take affect June 1st. Our countries have struggled to sign a trade deal, this is very important to the overall global economy. Major U.S stocks opened about 2 percent lower this morning neither the White House or the Treasury Department has has commented on the tariff increase. I am just hoping that this goes better than the North Korea negotiations, we saw how that worked out for us. Buy the way they fired off a couple of missels last week but it’s okay President Trump said they didn’t violate any treaties “Wink”. If this this goes on for 3 or 4 months American consumers and farmers and other businesses will certainly feel it. President Trump did tweet this morning just before 6:00am, forcasting that companies will be forced to leave China for other countries because it will be too expensive to do business there if no deal is reached.