“China’s imposition of tariffs is a forced response to the unilateralism and trade protectionism of the United States,” said the Communist Party-run Global Times. The outlet said it hoped the trade conflict would be resolved “on the premise of mutual respect and equality and trustworthiness in words and deeds.”

Dow Jones industrial average futures, which had been predicting a 100-point gain at markets’ open, sank immediately following the announcement of China’s retaliation and now point to a 150-point loss.
Auto stocks dropped in premarket trading, with General Motors off 1.7 percent, Ford Motor Co. sliding 1.9 percent, and Fiat Chrysler down 1.1 percent.

America's manufacturing sector shrank for the first time in nearly a decade

American manufacturing activity is slowing as rising tariffs have made materials more expensive. The sector shrunk for the first time since September 2009, according to IHS Markit.

pdq wrote:
And as these things are often determined in retrospect, I think it’s entirely possible the recession has already started.

The Communist Party-run Global Times wrote: The outlet said it hoped the trade conflict would be resolved “on the premise of mutual respect and equality and trustworthiness in words and deeds.”

Steve G. wrote:
Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far....
— Donald J. Trump (@realDonaldTrump) August 23, 2019

....better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP. Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing..
— Donald J. Trump (@realDonaldTrump) August 23, 2019

....your companies HOME and making your products in the USA. I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States. Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE,....
— Donald J. Trump (@realDonaldTrump) August 23, 2019

....all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop - it didn’t. Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!
— Donald J. Trump (@realDonaldTrump) August 23, 2019

deckeda wrote:
He sounds like, all puffed up and stuff. It’s not everyday you get to see all corporations receive a direct order via tweet.

Lemon Drop wrote:
[quote=deckeda]
He sounds like, all puffed up and stuff. It’s not everyday you get to see all corporations receive a direct order via tweet.