(Washington)

President Trump followed through on his threats today, hiking tariffs on China to 25% across $200 bn worth of goods. The move came as US and Chinese negotiators have not been making much progress in talks. Beijing has vowed to retaliate, but the talks between the two nations are continuing. Trump reinforced that there was no need to rush on a deal. Stocks opened lower on the news.

FINSUM: This certainly does not seem like good news and we are starting to think it may be some time before a real deal happens, which means the issue may continue to loom over the market.