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U.S. stocks slide after Trump warns China: 'I am a Tariff Man'

2018-12-05 3 Dailymotion

Stocks on Wall Street fell sharply on Tuesday after President Trump threatened more duties on China if trade talks fall through.<br />For more on this and other news around the world we turn to our Ro Aram…<br />Aram… so President Trump is calling himself a "Tariff Man…." <br /><br />Yes Mark… quite the label…. And it comes amid a 90-day truce in the U.S.-China trade war.<br />President Trump's tweets had investors concerned on whether that ceasefire will actually take place on the scheduled January 1st.<br />That agreement froze U.S. tariffs while the two countries negotiate a broader trade deal, but Trump's threat suggests he will proceed with plans to raise tariffs on 250 billion dollars of Chinese goods if talks fail.<br />President Trump wrote that negotiations with China have already started, saying he hopes for what he called a "Real" deal.<br />But it seems he wants quicker action from Beijing.<br />In his tweet, Trump wrote that China was supposed to start buying American "agricultural products and more" immediately.<br />The U.S. president's threat marks a dramatic shift in tone from when he brokered the truce with his Chinese counterpart on the sidelines of the G-20 summit.<br />His "tariff man" declaration also contradicts assertions made by the White House that Trump preferred a deal to tariffs. <br />Meanwhile, Beijing's silence on the trade truce has also left investors jittery. <br />President Trump had hailed the pause as an incredible deal, saying China had promised a number of measures. <br />However, Beijing's foreign ministry has repeatedly referred related questions to the commerce ministry, which has yet to say anything. <br />

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