All of the financial markets are focused on Trump's recent trade war with China. With traders scared what this might do to the economy, the Dow Jones tumbled 617 points on Monday. The White House hiked tariffs over $200 billion in Chinese goods entering the United States. China, of course, is retaliating with its own tariffs on our goods which amounts to approximately $60 billion. Not only will this raise the cost of goods for consumers but could have a prolonged effect on our economic growth. While many believe the United States needs a new trading relationship, it appears it is the consumer and businesses could be the ones getting hurt by these tactics. It also appears Trump might have over stepped his authority as it is Congress that has the power to collect taxes per our constitution.
https://www.usatoday.com/story/opinion/2019/05/13/dow-617-points-trump-trade-war-china-editorials-debates/1192493001/
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