New tariffs kicked in at midnight just as the markets had feared, but stocks are hanging in there just fine.
div > div.group > p:first-child"> Dow futures were down less than 50 points even after President Trump said there was 'no need to rush' on a trade deal.
Multiple traders and market strategists cite the notion that the new tariffs are not applied to Chinese exports that are already in transit before the deadline, which provides extra time before tariffs are actually applied to goods hitting U.S. shores and theoretically gives more time for the two sides to reach an agreement.
Trump followed through with his threat as tariffs on $200 billion of Chinese goods were raised to 25% from 10% at midnight. The market has had a tough week as the trade tensions intensified with the Dow Jones Industrial Average falling more than 650 points this week through Thursday.
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