Going Trade War News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To end the on going trade war as a result, president trump sayshd of tariffs set to take effect on sunday but this is just a first step 25% tariffs remain on a long list of chinese-made goods. tonight, former first lady michelle obama is among those defending 16-year-old greta thunberg after president trump mocked her for being named "time magazine's" person of the year. >> cigarette the making a call for action in italy today. >> they will have to do their job and to protect our futures. >> reporter: the 16-year-old taking little time to savor being named time magazine's youngest ever perso...

Dominic chu joining me now with what's going on. dominic, is all of this related to this on going trade war with china? >> we'll see the thrust of it, the large bulk will be driven by all those trade headlines coming out. the reason we're saying that, it's the incrementally, somewhat positive trade headlines over the last couple months pushing markets towards record highs. we hit record highs in the stock market on the day before thanksgiving. this was on some kind of assumption, some kind of forecast that the u.s. and china would move towards what was called a phase one trade deal. in this ca...

Sort of recession 2% growth or less because of this on going trade war, that has reverberations around the world. that will affect europe and this other trading partner but the united states, as well. yes, the u.s. economy looks fine now. consumer strong, unemployment is low but that can change. i mean, you don't go into a recession from a trough. you go in from a peak and we are at peak numbers in a lot of different areas. this is just going to make matters worse down the road. >> and again, trying to work to turn this tape around but the president reiterating what he said. he's willing to ta...

Talking about. one of the things at least. he's saying that the tariffs he's imposed on china are causing pain in china, are giving him -- is that fair at all? >> that's fair. it's causing pain to american businesses and consumers who have to pay for them. the average american household is paying $800 more for products than they otherwise would and come opini companies are paying taxes to the government and taking in $65 billion in import taxes. so yes, i mean, it's not exactly swelling the treasury's coffers but the money is coming in. as you weaken china, any political analyst spoke a couple...

Economic advisers tried to ensure the market that a short and partial shutdown would not have lasting economic impact. the president took to twitter to emphasize the shutdown could be long. on friday, the federal reserve tried to repair the damage. new york fed president clarifying that the fed will monitor what's going on in the financial markets and future hikes really depend on economic data. but overall, a very volatile week for wall street that ended with investors still deeply concerned about the impact of the on going trade war with china, a global economic slow down and the stimulus fr...