U.S. Stocks Trade Higher Despite Trump Tariff Threats

The U.S. market posted gains for the third day in a row on Thursday as market concerns of a possible trade war due to threats from U.S. President Donald Trump of tariffs worth $100 billion on Chinese goods subsided slightly.

According to Trump, the White House is considering more tariffs due to the recent unfair retaliation of China against previous U.S. trade actions with U.S. trade actions earlier. Trump also stated on Thursday that a representative from the U.S. has determined that China has engaged in unfair practices or ways to obtain intellectual property from America.

Trump has reportedly given the United States Trade Representative an instruction to consider whether it would be appropriate to impose additional tariffs and identify which products should be given additional tariffs. The Trade Representative is known for the agency which is responsible for recommending and developing trade policies. 

The White House also has stated that an instruction was given to Trump’s secretary of agriculture to implement a plan which would protect farmers and the agricultural interests of the United States.

Trump has argued and stated that American factories were closed resulting in millions of jobs loss was led by the trade practices of China. According to Trump, China has chosen to hurt farmers and manufacturers in the United States which is more of a misconduct rather than a remedy.

Wall Street Stocks

The Dow Jones Industrial Average traded to 24,505.22 during the most recent trading session which is up by 240.92 from the previous trading session with stocks such as Boeing being one of the best-performing stocks.The Nasdaq composite also recorded a gain of 0.5% to settle at 7,065.55 while the S&P 500 edged 0.7% higher to end at 2,662.84.

Wall Street shares have been shaken over the past month due to global economic concerns including earlier announcements of tariffs against China. However, a positive inflation data have pushed most stocks on Wall Street higher.

Most stocks in the U.S. recovered on Thursday after trading on a slightly negative territory during the previous day. A volatile trading activity has also been observed from the market over the past couple of weeks. The Nasdaq composite also recorded a gain of 0.5% to settle at 7,065.55 while the S&P 500 edged 0.7% higher to end at 2,662.84.

However, outside the United States, stock markets saw a decline due to the tariffs planned to be imposed by U.S. President Trump on Chinese products which added fuel to the trade war fears of the market. The FTSE in Britain edged 0.5% lower while the Dax in Germany lost 0.85%. France’s CAC index also fell 0.75%.

See Also: U.S. Economic Growth to Hit 5%

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