China Markets Slump to 5-Year Lows the Day After Trump Suggests 60% Tariffs on Chinese Imports
President Donald Trump joined Maria Bartiromo for an interview this weekend that aired yesterday on Sunday Morning Futures.
During the interview Trump suggested up to 60% tariffs on Chinese goods coming into America.
Trump | China Gets Hit with Massive Tariffs – But I Want to "Get Along"
Donald Trump will allegedly impose tariffs of 60%+ on Chinese products if he wins the 2024 election.
The former president said Beijing is taking advantage of the US but he didn't want to ignite another… pic.twitter.com/dewVXsMtEz
— RT_India (@RT_India_news) February 5, 2024
On Monday the China markets sunk to 5-year lows.
That didn’t take long!
The Independent reported via Disclose TV:
Chineseshares gyrated on Monday, sinking to 5-year lows after market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and “malicious short selling.”
Shares in Shanghai and the smaller market in Shenzhen, near Hong Kong, swung between big losses and small gains throughout the day. The markets have languished on heavy selling of property shares, which are enduring a slump in the real estate market.
The China Securities Regulatory Commission held a meeting Sunday focused on stabilizing the markets, state-run Chinese media reported. A notice on its website appeared designed to reassure individual investors who account for more than half of trading volume.
The Trump tariffs were one of the most consequential (and under-appreciated) American policy successes of the last 25 years.
They knocked China off course.
They discredited the “post American world” fake intellectuals.
They proved PNTR belongs in the ash heap of history. pic.twitter.com/CDL3whi8jb
— Jacob Helberg (@jacobhelberg) February 4, 2024
No comments