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Trump Shoots From the Lip; China Trade Talks to Resume in Fall

With Congress currently out of session, the nation’s attention was squarely on the terrible mass shootings in El Paso, TX, and Dayton, OH. Nevertheless, markets were focused on President Donald Trump and his important decisions with respect to the ongoing trade war with China.

In the previous week, the President announced a new 10% tariff on the estimated $300 billion of Chinese imports entering the US that were not already subject to the 25% tariff. He followed that up Monday by declaring China to be a currency manipulator. The combined actions shook up markets, and led to global concerns about a potentially rapidly deteriorating relationship between the two global economic superpowers.

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