By CCN.com: The Dow Jones Industrial Average plummeted 400 points by mid-day Tuesday. Markets are very responsive to crucial trade policy decisions. The ongoing tariff war with China has had a haphazard effect on various industries, both importing and exporting. Soybean growers have been hit particularly hard by retaliatory tariffs imposed by China.
US-China Trade Talks Canceled
A source told CNBC today that a planned meeting this week between Trade Rep. Robert Lighthizer and Chinese vice ministers of trade has been called off. Ongoing differences of opinion between the White House and Beijing contributed to the cancellation. The story is still developing, but erstwhile the president told China to “stop playing around.”
Donald Trump is committed to the idea of tariffs as a reasonable method for boosting the US economy. The effects of high tariffs between the US and China are hard to reconcile for the manufacturing and agricultural industries which rely on valuable exports to post reasonable profits.
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