- The Trump administration is preparing to levy tariffs on tens of billions of dollars of Chinese goods in the coming week, perhaps as early as Friday, WSJ reports.
- Senior trade officials in the White House, the Commerce and Treasury departments and the U.S. Trade Representative’s office met on the issue before Pres. Trump's G-7 meeting last Friday and agreed that the U.S. should proceed, according to the report.
- Trump reportedly has not yet given his final approval and could have second thoughts, particularly since the U.S. wants China’s cooperation in persuading North Korea to give up its nuclear weapons.
- If tariffs proceeds, some products could be removed and others added to the original plan for tariffs on $50B of goods; U.S. Steel (NYSE:X), for example, has asked for tariffs on tin mill products, and SolarWorld Americas wants tariffs on solar cells in addition those already in place.
- ETFs: SPY, FXI, VOO, SH, SDS, IVV, SSO, UPRO, SPXL, RSP, SPXS, YINN, VFINX, YANG, MCHI
- Now read: Rising Inflationary Expectations Cap Equities
Original article