The Presidential Daily Brief

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    China’s Tariff Retaliation Prompts New US Threats

    In a throwdown contest that’s unnerving global investors and financial leaders, President Trump vowed Monday to impose tariffs on another $200 billion worth of Chinese goods. This latest escalation in a burgeoning trade war started Friday, when the Trump administration announced 25 percent tariffs on $50 billion in Chinese wares — and Beijing fired back, vowing to retaliate against U.S. “blackmail” by charging the same rate against $34 billion in American merchandise. The conflict sent the Shanghai Composite index into a tailspin, dropping 3 percent to a two-year low today.

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