Trump Slaps 104% Tariff on China as Global Levies Kick In
Photographer: Qilai Shen/Bloomberg
Good morning. Donald Trump’s tariffs kick in as he slaps additional levies on China. Italy floats the idea of eliminating EU-US barriers. And sleep pods and breweries may be coming to an airport lounge near you. Listen to the day’s top stories.
Stocks fell as Donald Trump’s tariffs kicked in, with investors gripped by concerns that something may break in the financial plumbing as stress builds up. Treasuries extended declines. Adding to tension, the US raised levies to 104% on many Chinese goods. In China, the central bank is guiding its currency weaker at a carefully orchestrated pace, as it seeks to blunt some of the impact of the trade war without destabilizing markets.