Trump’s “Easy-to-Win” Trade War Wipes Out 2018 Dow Gains

On Friday, continuing to labor under the (now fully debunked) assumption that trade wars are “good” and “easy to win,” Donald Trump announced tariffs on $50 billion of Chinese imports, with the first $34 billion going into effect July 6. Predictably, China announced a plan to retaliate, saying it would “immediately introduce the same scale and equal taxation measures,” and that “all economic and trade achievements reached by the two sides will be invalidated.”

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