Trump escalates tariffs as China retaliates and weighs effects
President Trump raises tariffs on 300 billion dollars of Chinese goods from 10 to 15 percent and expands 250 billion dollars in duties to 30 percent while China hikes 75 billion dollars in U.S. imports. White House cites no authority for forced corporate changes. Analysts warn rising costs hit consumers and global growth risks loom.
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Asia Society Policy Institute
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Trump attacks Fed chief Powell after Jackson Hole address
President Trump launched a personal, combative attack on Jerome Powell after Powell’s Jackson Hole remarks. He accused the Fed of doing nothing, questioned who poses a bigger threat, and pressed that the dollar is strong while the Fed remains weak.
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Trump targets Fed independence amid rate debate and China tensions
President accuses lower rates abroad of lifting the dollar and harming exports while urging a bold rate cut. Powell defends Fed independence as markets react to a downturn in global growth. Trump contends the Fed should act, while experts warn against politicizing central banks.
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Global stocks plunge as trade war escalation shocks investors
U S stocks fell sharply with the Dow down 623 points and the S P 500 off 76 as President Trump escalated the trade war with China. The selloff followed new tariffs on 75 billion dollars of U S goods and spooked markets globally. Gold rose while yields moved higher as investors sought safer assets. The Dow briefly tumbled about 745 points and the S P 500 logged a fourth weekly loss. Company shares including UPS FedEx and Amazon dropped after Trump ordered curbs on fentanyl shipments from China.
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