Trump Says The US Has 'Already Lost The Trade War'

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But with today's decline, the three major indexes fell into the red for the week, with the Dow down 0.7%, the S&P off 1.4% and the Nasdaq dropping 2.1%. "We don't have a trade war, we've lost the trade war", Trump said in a radio interview with NY radio show, 77 WABC's "Bernie & Sid".

Comments from Secretary of Treasury Steve Mnuchin acknowledging the possibility of a trade war suggested that, this time, there may be real consequences to Trump's proposal. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair.

President Donald Trump has threatened to impose another $100bn worth of tariffs on Chinese imports. "We represent 6 percent of the imports but account for 51 percent of the tariffs".

Beijing will fight take "comprehensive countermeasures" if Washington continues with "unilateral and protectionist policies" on trade, a Chinese official said on Friday.

In light of China's "unfair retaliation" against earlier U.S. trade actions, Mr Trump upped the ante on Thursday by ordering United States officials to identify extra tariffs, escalating a high stakes tit-for-tat confrontation with potentially damaging consequences for the world's two biggest economies.

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Markets might be able to shrug off trade concern if there's a good jobs report this morning or an agreement on Nafta, he says.

Washington has called for the $50bn in extra duties after it said a probe determined Chinese government policies are created to transfer USA intellectual property to Chinese companies and allow them to seize leadership in key high-technology industries of the future.

Since the start of this week, the United States and China have been engaging in a tit-for-tat trade spat. That leaves the USA government with a lot more Chinese exports to potentially target with tariffs.

There is one simple truth to our trade deficit: Most of it exists because the the richest country and can buy far more from others than they from us.

USA stocks also were affected this past Monday by Trump's new verbal attack on giant online retailer Amazon.