Trump's Trade War Changes the current global economic processes.

Trump's Trade War Changes the current global economic processes.

https://www.nytimes.com/2019/05/31/business/trade-war-trump.html?module=inline

Trump’s Two-Front Trade War

Donald Trump’s two-front trade war just took a turn for the worse. ThinkProgress: “The Trump administration escalated its trade war with Beijing on Saturday as it began collecting higher tariffs on many Chinese goods arriving at U.S. ports, amid warnings from domestic manufacturers and retailers that the resulting higher prices will be pass directly to American consumers. U.S. officials began collecting 25% tariffs on many Chinese goods arriving in the U.S. on Saturday morning, the latest round in a series of tit-for-tat trade skirmishes between the world’s two largest economies. Trump announced last month that tariffs on $200 billion of goods arriving from China would rise from 10% to 25% and pledged to put levies on another $325 billion of Chinese imports at some point in the future. Meanwhile, the administration this week began threatening Mexico with tariffs, in an unusual gambit using international trade as a bargaining chip to force greater cooperation with the president’s stalled immigration policies. The double whammy of tariffs on China and Mexico raised the ire of investors, who expressed fears that Trump’s fiscal policies risk plunging the country into a downturn. Stocks finished down Friday after Trump’s announced threat on Thursday against Mexican goods shook Wall Street trading. The Dow Jones industrial average dropped 335 points, or 1.4%, ending the day and week at 24,815.”