Stock Losses Accelerate As China Warns "Temperamental" US "Will Suffer More Pain" | WHAT REALLY HAPPENED

Stock Losses Accelerate As China Warns "Temperamental" US "Will Suffer More Pain"

US equity markets are accelerating losses following confirmation, via a Chinese media op-ed, that the US-China trade war is drifting further away from a deal following Trump's new tariffs.

Full China op-ed (via Global Times)

The US on Thursday unexpectedly announced on Twitter that starting September 1 it would impose a 10-percent tariff on an additional $300 billion in Chinese goods, following the resumed high-level China-US economic and trade consultations in late July in Shanghai. Both sides said the negotiations were "constructive" and mentioned China's commitment to increase purchases of US agricultural products in their statements. It's astonishing and inexplicable that the White House changed its tune overnight and is wielding the tariff stick once again.

The US looks quite temperamental. It accused China of backtracking on a trade deal as Beijing insisted on some of its own demands. This time, the US faulted China for not stepping up to buy more US farm products. It threatened new tariffs once again, obviously hoping to deter China.

Webmaster's Commentary: 

What I see here, is thousands of American businesses and farmers who will be hurt on this; and they are seriously not going to forget the economic pain they have endured, courtesy of "Truponomics", in the near future.