The Dow has dropped as President Trump announced a new ten percent tariff against Chinese goods. NBC's Stephanie Ruhle has more on the impact of this announcement.
» Subscribe to MSNBC:
MSNBC delivers breaking news, in-depth analysis of politics headlines, as well as commentary and informed perspectives. Find video clips and segments from The Rachel Maddow Show, Morning Joe, Meet the Press Daily, The Beat with Ari Melber, Deadline: White House with Nicolle Wallace, Hardball, All In, Last Word, 11th Hour, and more.
Connect with MSNBC Online
Visit msnbc.com:
Subscribe to MSNBC Newsletter:
Find MSNBC on Facebook:
Follow MSNBC on Twitter:
Follow MSNBC on Instagram:
Dow Drops As Trump Announces New Tariffs On China | Katy Tur | MSNBC
Trump’s tariffs on China have brought in very little revenue — a little less than $20 billion since the start of 2018. Chinese retaliation has hit U.S. farmers hard, prompting Trump and Congress to bail them out. These payments so far have totaled more than $25 billion. In fiscal terms, therefore, the trade war with China has been a net loss. Meanwhile, the bailouts aren’t nullifying all the pain from Chinese retaliation. U.S. farm bankruptcies have been rising – Bloomberg https://www.bloomberg.com/opinion/articles/2019-08-01/trump-s-trade-war-has-hurt-both-the-u-s-and-china
@William Cunningham Placing tariffs will bring them back? LOL! It’s going to simply be more taxes on us consumers and continued drop in retail sales. Every president since and including Reagan preached against Tarrifs stating they only hurt US citizens (a tax) and CPAC members cheered! Now the Orange, fat man comes along!!!!! Because of his Tarrifs, the market has gone from a Bull Market to a Bear Market and now another 2% drop in the Dow Jones Industrial Average in the past 2 days!!!!! tRump is an absolute moron!!!! BTW, did Mexico pay for his wall? Has North Korea stopped testing missiles? He’s a loser and he could easily put the country in another recession just like the last republican president!!!!!
Warren Shiflett already working look at the companies coming back and building new plants here in america. When Trump wins for second term, which looking at current crop of democratic candidates, is almost assured. The Chinese will make the deal just like the Mexicans and Canadians did. Otherwise the country will just use the money we put on tarrifs of our own companies trying to ship back to this market. Trust me this is market everyone in the world wants access to. Do not kid yourself. Thise Europeans dumped Iran in a heartbeat when we threatened to close our borders to them! Chinese will cut a deal. They have been cheating and stealing from us for long enough!
farmers got hit hard coz china dont buy their produce as much.
@William Cunningham Ha.ha.ha! You’re conned!
He’s manipulating the markets with these tweets, he’ll come out later saying he won’t issue the tariffs and stocks will rise and people like him and Jared Kushner profit, of course this is all illegal but who is going to investigate and prosecute him, the corrupt Attorney General, Senate Republicans who are just as guilty for being complacent and NOT doing there Constitutional duty of being a check on the Presidency.
@Stanley Hudson walk around your house and find out how much ‘crap’ you own.
There are videos of trump talking about China 20 years ago… your conspiracy theory is foolish. China is ripping us off and he’s dealing with it. He wants fair trade and some accountability on the international stage with the second biggest economy in the world which is only fair and needs to happen. You people have literally lost your minds and I’m a Democrat
@CeNTuRiOn33100 Moscow girls really knock me out. Trump 2020.
CeNTuRiOn33100
They had a deal but the Chinese changed last minute (“both shook hands”). Per well known economist, he said that the US has the upper hand so what he his trying to do in the negotiation is to maintain the “iron hand”. What the Chinese is trying to do is to delay and delay until after the election hoping we have a new administration which will not pursue the deals and China will continue to take advantage of USA…and we are back to the old ways…they will continue to steal our IP, etc.
Here he goes, too much talk about Democrats on the news cycle … time to throw more turds. So predictable. This should be an object lesson for the media … this is his Achilles heel … being ignored.
Our Glorious MAGA Leader will take care of China, just you see.
@Rocky Comet Really comrade?
Some one needs to deal with China and from what I read on these threads my fellow Democrats are turning into a bunch of spineless weasels. We have no spine anymore. China has abused the US in business/ trade/ theft on every level
so we wasted a rate cut for nothing.
Got it in one, the stimulus it might have provided has now been Trumped.
What a damned fool.
@RAD Official good idea to get the russ belt back who lost their job…call them fools…that will surely help to win their votes!!
@finalfantasy tamilnadu This is not just about the rust belt voters.. this is about a major threat to the stability of the planet as a whole. With Trump in office the world is just as confused and uncertain as that mans Tweets, comments and ridiculous actions. He is a tyrant who will get us ALL in trouble if he and his family is allowed to carry on as they are. This is NOT just about the USA.. Trump is a direct threat, and a danger to humanity! If you vote for him again, your country may begin it’s path to further division and even civil war!
On the cartoon the Simpsons he said I’ll make America my ex wife now it makes sense
Trumps going to crash the economy Just like he bankrupted 7 times
Just like his Republican predecessor crashed the economy, back in 2007.
even bill gates warren Buffett applied for corporate bankruptcies like trump
*Do you MAGAtrash REALLY think China pays for those tariffs?*
It’s time for China to understand that cheating and stealing have consequences.
Again, anyone who filed 6 corporate bankruptcies and ripped off thousands of American’s should not be in charge of the economy. The president doesn’t know well enough to leave things alone. Our Midwest farmers especially and all farmers are getting killed by this foolishness.
even bill gates filled for corporate bankruptcy,warren Buffett did the same…when you do many business some succeed some fail…happens to all businessman .
finalfantasy tamilnadu 6 times a failure. Number 7 as president. He’$ in over his head. Americans are not going to be his to screw around with.
@Arthur Radtke so far the economy is doing good…I won’t vote for him but I will support his economy .when you start a business sometimes it succeeds sometimes it will fail…trump failed 6 times …he still has many successful businesses…bill gates faced the same ,I can give many examples.no politician has ever succeeded in business and their have been and will be incharge of the economy ,you think that is wrong then as well?
I feel another ression coming!!!
ression?
Ression?
If you knew how to spell “recession” your prediction might carry some weight.
na no signs of recession
Hopefully right before the 2020 election.
He knows he won’t be re-elected, so now before he goes, he wants to overflow his accounts with tons and tons of money…. Big Beautiful tons of money… And then Ask for Asylum in Russia. And build more Big and Beautiful Hotels… With Illegals as employees. I guess the Russian Shield wasn’t far from reality.
@Wolf’Jarl Gr’Bane Your looy socialist party will never win, we have the best economy and lowest unemployment in 9 years, hmmm……and you say he wont get re-elected, oh by the way, great job you guys are doing in Baltimore.
I’m a Democrat and I’d bet he will be re-elected. Issues like China and jobs are what people care about. Not all of the identity politics I see my party the democrats playing. We need to get some grit and talk policy or I’m out. What he is doing with China is brilliant if you knew anything about business or did business in China. Just over it.
That will teach those US farmers, steelworkers, and all blue colored workers who gonna pay this tariff war with China. while other parts of the world are gaining profits. please go on mr President.
Learn a thing or 2. JudicialWatch.org
And who will pay this, not China but the consumer in America.
Pub Comrad : They can AFFORD to, “suffer,” in China. The government is under NO THREAT, and the people will be told they are making, “sacrifices,” for the long game. The long game is ALL THEY PLAY in China. Trump simply CANNOT and WILL NOT win this. Don’t make me have to say, “I told you so,” YET AGAIN, son?
finalfantasy tamilnadu : How did you get THERE, from THAT, son? 🤔
So who pay for the China’s technology stealing and injustice in the trade system ? not just the current consumer but all the future generation of american.
The Chinese has actually analysed the remaing 300b goods. Why are they not under tariffs yet? They find out the last 300b goods are intermediate goods for US manufacturing which have hard demand and can’t be replaced in 3-5 years. Tariffs on the last 300b will hurt the US manufacturers more. LOL.
probably then we should just get back to obama era and let china take all companies to their nation by attractions like cheap labour, no regulations and allow them to steal technology.
@finalfantasy tamilnadu it’s American companies that are stealing American jobs in pursuing higher profits at the expense of American jobs you can’t blame China it’s your corporations that stealing your jobs
mark harrowfield not necessarily. My company develops products in the United States and when we would try to sell into China we would get a 40% tax against us so we could not compete against Chinese companies over there. But those same Chinese companies could come over here and compete against us in the United States and basically pay no taxes or tariffs. Is that fair? That’s not even addressing all the IP theft. You people have literally lost your minds. I’m Democrat and I honestly cannot stand Trump but on this issue he is so right it’s not even funny.
Way to go, Baby Donald..!!! Another big win for the stable genius. _//vomit_
he is a stable genius
Another 14 million to help farmers out? Republicans love socialism when it buys their votes
republicans hates tariffs trumps voters in russ belt who lost their jobs to china like this step…he is going after their vote
I don’t actually trust the administrations real numbers regarding how well the economy and employment are actually doing? I believe; probably DJT tells his administration what numbers he wants them to disclose, true or not.. Fact is DJT is not at all forthcoming about any real facts. The stock market reacted 1st time because of expectations of incoming DJT policy expectations and then to corporate tax cuts … not a huge brain twister as to why market reacted positively. It does not change the actual economy. Cost of everything rising and wages are not. Is employment really increasing or have people just stopped trying?
We cant trust the admin to giving truths because full truthful disclosure is against the DJT mode of operation. He follows the Norman Vincent Peale philosophy of saying it enough times will make it true. And yes Norman was his influence as he attended NVP church as he was growing up. It is maybe not that he wants to be deceptive all the time but it is he is trying to create a think positive attitude …
If somebody were to be able to have access to the real numbers the economy and market would tank.
numbers don’t lie…thats why his job approval is high.no inflation so far…and wages have risen..if you don’t believe the numbers you should visit those russ belt states which elected him..those are democratic voters.
The Dow was up almost 300 points intraday. He opened his Giant pie hole, and it lost almost 600 points to end the day 280 points down! Great Job Scooter!
I’MPEACH The economy is going to take a big dive under this man. The calm before the storm.
Love it. Good work Trump!!!! Deal with China now or our kids will have to deal with it. For all the thin skinned weenies on here. I did business in China for over 20 years and lived there. I can’t stand Trump and did not vote for him, but HE IS SO RIGHT on how he is handling China. Takes a thug like Trump to handle a thug like China.