At 30 . Additionally, the remaining 300 billion of goods and products from china being taxed from september 1st at 10 will be taxed at 15 . Now this was in retaliation for chinas move earlier in the day when it announced retaliation tariffs on 75 billion worth of u. S. Goods. Chinas decision sparked outrage at the white house and a barrage of tweets attacking beijing as well as an attempt to order all u. S. Companies to cut ties with china. Quote, we dont need china and frankly, would be far better off without them our Great American companies are here by ordered to immediately start looking for an alternative to china including bringing Companies Home and making your products in the usa. Those comments sent the market plunging. It closed more than 600 points down for the day. The impact of those tweets on stocks was illustrated realtime on cnbc with this banner trump tweets spark market sell off. Trumps words also brought these comments from anchors on cnbc and fox news. I dont know t
Good evening once again from our nbc news headquarters here in new york. Im Steve Kornacki in for Brian Williams who has the night off. Day 946 of the Trump Administration and the president is just now leaving washington. He is on his way to france where he will meet with key u. S. Allies at the g 7 summit. This just hours after escalating the trade war with china and sending the stock market tumbling with a series of furious attacks over twitter. Late this afternoon, the president sent out word that he is hiking u. S. Tariffs on beijing, raising existing rates, as well as those that have been set to kick in next month. Quote, starting on october 1st, the 2050 billion of goods and products from china currently being taxed at 25 will be taxed at 30 . Additionally, the remaining 300 billion of goods and products from china being taxed from september 1st at 10 will be taxed at 15 . Now this was in retaliation for chinas move earlier in the day when it announced retaliation tariffs on 75 b