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STOCK MARKET DRAMA: TRUMP vs. CHINA – WHO’S WINNING?
Markets Stumble After Trump’s SHOCKING Claims!
In a jaw-dropping twist, stock indices ended the week nearly flat, with President Donald Trump launching a SCATHING ATTACK on China! His explosive social media outburst claims the Asian superpower has "TOTALLY VIOLATED" a trade agreement just days after it was supposedly struck. But despite the outrage, the stock market barely flinched!
S&P 500, Nasdaq, and Dow: A TENSE STANDOFF!
Friday saw the S&P 500 dip a minuscule 0.02%, while the Nasdaq plummeted by 0.4%! The Dow barely edged up 0.1%. So, what’s the deal?
Trump took to Truth Social, proclaiming a "FAST DEAL" was sealed just over two weeks ago to ease tensions between the United States and China. The agreement, supposedly crafted by Treasury Secretary Scott Bessent in Switzerland, aimed at cooling the fiery trade war. U.S. tariffs on Chinese exports were set to be slashed from a staggering 145% down to 30%, while China was to drop its retaliatory tariffs from 125% to just 10%.
Trump RAGES: "China Has No Respect!"
But hold onto your hats! Just hours after Bessent hinted the negotiations were on shaky ground during a Fox News appearance, Trump blasted China, claiming they’ve completely backed out of the deal! No evidence was provided, but hey, this is a wild trade saga filled with accusations and drama!
This bold declaration comes right after the Court of International Trade weighed in, announcing Trump’s sweeping tariffs unveiled on "Liberation Day" (April 2, mark your calendars!) were shot down due to a lack of legal authority. But don’t pop the popcorn just yet! A federal appeals court allowed many of his controversial tariffs to remain in limbo while legal battles drag on, with more fireworks expected at a hearing set for June 5!
Will Trump’s Tariffs Fizzle or Sizzle?
Following the rollercoaster legal news, Trump doubled down with a fiery message for his followers: “The President of the United States must protect America against those that are doing it Economic and Financial harm. Thank you for your attention!” Talk about a rallying cry!
Despite the chaotic trade landscape, the stock market managed to climb up about 2.2% since last Friday. And after threatening the EU with a jaw-dropping 50% tariff, Trump has decided to hit the brakes and delay implementing those tax hikes until July 9.
Buckle up, trade war fans! It’s a wild ride ahead!
photo credit: fortune.com
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