This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2018/04/04/business/stock-markets-trade-war.html

The article has changed 7 times. There is an RSS feed of changes available.

Version 0 Version 1
Stocks Drop on Wall Street as Trade Fight Grows Between U.S. and China Stocks Drop on Wall Street as Trade Fight Grows Between U.S. and China
(35 minutes later)
Stocks on Wall Street plunged on Wednesday amid an escalating trade dispute between the United States and China, the world’s two biggest economies, that investors fear could derail the current economic upturn. Stocks on Wall Street fell sharply on Wednesday amid an escalating trade dispute between the United States and China, the world’s two biggest economies, that investors fear could derail the current economic upturn.
Washington and Beijing have announced tariffs against each other, with the American actions being the latest in a series of protectionist moves by the Trump administration. President Trump has long accused China of unfair trade practices, and in recent weeks he has pushed for penalties against Chinese products as varied as steel, aluminum, aircraft parts and flat-screen televisions. China has responded in kind. Washington and Beijing have announced tariffs against each other, with America’s actions the latest in a series of protectionist moves by the Trump administration. In recent weeks, President Trump, who has long accused China of engaging in unfair trade practices, has pushed for penalties against Chinese products like steel, aluminum, aircraft parts and flat-screen televisions. China has responded in kind.
“The scale and speed of Mr. Trump’s actions would have been difficult to predict at the start of the year,” analysts at Deutsche Bank said in a note to clients on Wednesday before American markets opened. “The growth outlook is more uncertain than it was.”“The scale and speed of Mr. Trump’s actions would have been difficult to predict at the start of the year,” analysts at Deutsche Bank said in a note to clients on Wednesday before American markets opened. “The growth outlook is more uncertain than it was.”
The latest tariffs between the United States and China have largely involved advanced manufacturing technologies, a parallel dispute to one between the two countries over steel and aluminum. The overall value of the restrictions remains relatively small, given that total trade between the two countries amounts to around $650 billion a year. But economists and investors say that tensions could quickly ratchet up, and that tariffs could become more painful. The latest volley of tariffs between the United States and China have mostly involved advanced manufacturing technologies, a dispute that parallels the countries’ fight over steel and aluminum. The overall value of the duties is small given that total trade between China and the United States amounts to around $650 billion a year. But economists and investors say the tensions could ratchet up quickly, and that the tariffs could become more punishing.
The protectionist moves by the White House have contributed to a reversal of much of the stock market gains that the president has trumpeted since he took office. The Dow, for example, has slipped in recent weeks to its lowest level this year, despite generally positive economic growth around the world and a tax overhaul in the United States that has helped bolster corporate profits. The Trump administration’s protectionist moves have helped fuel a reversal of many of the stock market gains that Mr. Trump has touted since taking office. The Dow Jones industrial average, for example, has recently slipped to its lowest level of the year, despite generally positive economic growth around the world and tax legislation in the United States that has helped bolster corporate profits.