Market News and Commentary – Wall Street Underground

By Nick Guarino | August 23, 2019

Trump Out Of Control: Orders U.S. Firms Out Of China After Beijing Sets New Tariffs

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WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump on Friday said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods.

Trump said on Twitter he will issue a response to China’s latest tariff plan on Friday afternoon. The President was meeting with his trade team at midday, a senior White House official told Reuters.

“We don’t need China and frankly, would be far better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.” Trump tweeted.

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