President Donald Trump took to social media early Thursday afternoon and said via Twitter during upcoming trade talks with China, “the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%.” That was enough to prompt a swing of more than 500 points in the Dow.
The tweet comes after China revealed overnight that working teams from the U.S. and China will be in “intensive” contact during August to lay down “good groundwork” for the September in-person trade talks in the U.S., according to China’s Ministry of Commerce.
"With regards to this (week's) round of negotiations, both sides communicated over two topics: One is how we view the past - we mainly discussed why negotiations broke down and clarified our views on some economic and trade issues," ministry spokesman Gao Feng said Thursday. "The other one is how we view the future to ascertain the principles and methodology of negotiations, as well as relevant timetables."
This injects even more uncertainty into the U.S.-China trade situation that is already at a sensitive stage.
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