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Good evening everyone piem kate baldwin in for erin burnett. Breaking news. President trump escalating the trade war with china. Trump announcing a now round of tariffs in retaliation to chinas retaliation, announced earlier in the day. The president calling chinas moves politically motivated. So he is increasing all the tariffs against china by 5 . All of this caused another bad day on wall street, ending down 623 points. The president also spent thedy attacking his new favorite booking man, the Federal Reserve chairman jay powell. Tweeting in part we have a strong dollar and weak fed. My only question is who is our bigger enemy, jay powell or chairman xi. Yes the president compares the independent fed chairman he appointed to americas leading trade adversary. And he wasnt done there. Announcing a decree or at least trying to in another tweet. Our Great American companies a ....
Announcer this is cnn breaking news. Breaking news. President trump retaliates in his trade war with china. He Just Announced new tariffs on billions of dollars of chinese goods, hours after beijing hit the u. S. With new tariffs. This caps a day of turmoil that sent the Dow Jones Industrials plunging more than 600 points. The president has been fanning the flames saying he, quote, hereby orders u. S. Companies to start looking for an alternative to doing business in china. As recession fears rise, mr. Trump again attacked his Federal Reserve chairman, suggesting that Jerome Powell may be a bigger enemy of the u. S. Than the president of communist china. Also breaking, the Supreme Courts liberal icon, rut ....