A 104% U.S. tariff on Chinese goods was set to take effect at midnight ET Wednesday, after Beijing refused to lift its retaliatory measures.
President Trump, speaking from the White House Tuesday, said the tariffs are generating $2 billion a day and encouraging companies to invest in the U.S. Here’s a list of countries working on trade deals with the U.S.
He also described a “great call” with South Korea’s acting president and suggested a trade deal is possible as Seoul prepares to send a delegation to Washington.
As a result, market declines on Tuesday were mild, with the Dow down 0.84%, the S&P 500 off 1.57% after surrendering early gains, and the Nasdaq falling 2.15%.
