Trump has been threatening to impose a fresh wave of tariffs on Chinese imports for a while now, but yesterday he finally moved ahead with them. Overnight, he announced the US would be moving ahead with new 10% tariff on $200 billion of Chinese goods that would rise to 25% at the end of the year.
China has already announced its retaliation which does not bode well for international relations between the US and China. Let us hope they resolve these issues sooner rather than later.
Today we will see building permits and housing sales, but tomorrow brings initial jobless claims and existing home sales. On Friday, we will see composite, manufacturing and services PMI for September.
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