The Dow Jones (DJIA) is set to open the Tuesday trading session in the red after China issued a tariff warning to the Trump administration. Yesterday, President Trump sent out letters containing updated tariff rates to 14 countries.
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“One conclusion is abundantly clear: dialogue and cooperation are the only correct path,” said the People’s Daily, the official newspaper of the Central Committee of the CCP. The newspaper also reiterated China’s previous statement that Trump’s tariffs equated to “bullying.”
China Warns Against Deals that Harm its Supply Chain
People’s Daily added that China would retaliate against countries that exclude China from their supply chain when signing deals with the U.S. “China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions,” said the newspaper.
Trump has promised higher tariffs for countries that transship products, aiming to combat the avoidance of tariffs on Chinese goods by shipping them through other countries.
The Dow Jones ETF (DIA) is down by 0.10% at the time of writing after falling by 0.91% on Monday.
