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Stocks plunge as Trump says U.S. companies ‘ordered’ to seek alternatives to China

WorldNews Saturday, 24 August 2019
Stocks plunge as Trump says U.S. companies ‘ordered’ to seek alternatives to ChinaBEIJING (AP) — President Donald Trump on Friday called on U.S. companies with operations in China to consider an alternative place to do business after Beijing announced a series of retaliatory tariffs Friday. "I will be responding to China's Tariffs this afternoon," Trump tweeted. "This is a GREAT opportunity for the United States." U.S. markets tumbled, as did markets in Asia and Europe. The Dow Jones Industrial Average fell more than 400 points, 1.6%. The U.S. has said it plans to impose 10% tariffs on $300 billion of Chinese goods in two steps, on Sept. 1 and Dec. 15. China on Friday announced new tariffs on $75 billion of U.S. products in retaliation for those tariffs, deepening a...
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Credit: CBS 2 New York - Published < > Embed
News video: Stocks Rise As Trump Signals Different Tone On Trade War With China

Stocks Rise As Trump Signals Different Tone On Trade War With China 01:54

President Donald Trump signaled a different tone on the trade war with China and that sent stocks higher on Wall Street; CBS2's Dick Brennan reports.

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