Welcome to a weekend of tariff talk.
Before you get ready to go out—or stay in—let’s review the top political stories from today.
Trump Wasn’t Kidding
Trump announced on Friday, June 15, that he was slapping $50 billion worth of tariffs on Chinese imports. China quickly retaliated.
In case you’re worried about a trade war, Brian Sozzi, executive editor of TheStreet, talked to top executives about what a trade war could mean.
“Minneapolis Fed chief Neel Kashkari paints a brutal outlook if the U.S. were to get into a trade war,” said Sozzi.
The U.S. tariffs will be enacted on July 6.
“The move is aimed at cracking down on Beijing’s policies that the White House says force foreign companies to hand over valuable technology and data in order to operate in the Chinese market,” reported Politico.
This could be the start of a trade war with China. China and the U.S. had sat down previously for trade negotiations. At the time, the two countries failed to compromise.
“The delegation held frank discussions with Chinese officials on rebalancing the United States-China bilateral economic relationship, improving China’s protection of intellectual property, and identifying policies that unfairly enforce…