BREAKING: Trump announces new retaliatory tariffs against China, bumping up taxes by 5 percentage points.
WASHINGTON — The Latest on the escalating trade war between the U.S. and China, the world’s two largest economies :Two trade associations representing auto companies say the escalating tariff fight between the Trump administration and China is bad for the industry.
The National Retail Federation made its comment in response to President Donald Trump’s call Friday for U.S. businesses with operations in China to look for alternatives, as trade tensions between the world’s two largest economies intensified. Trump lashed out at Beijing Friday after it announced retaliatory tariffs on $75 billion in U.S. products.
President Donald Trump lashed out at China and on Twitter is urging U.S. companies to consider an alternative to doing business in China. The stocks of all three companies the president mentioned also dropped as traders tried to understand what the implications for them were.
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