Kerr Mines Inc (KER)

[goldenpolarbear]

“...US President Donald Trump is to impose 25% tariffs on $50bn worth of Chinese goods, accusing Beijing of intellectual copyright theft.

Tariffs that affect more than 800 products worth $34bn in annual trade are due to come into effect on 6 July.
The White House said it would consult on tariffs on the other $16bn of products, and would apply these later.

China retaliated, saying it will impose an additional 25% tariff on 659 US goods worth $50bn.
The US had earlier warned that it will impose even more tariffs should China retaliate.

Mr Trump said the tariffs were "essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs."...”

https://www.bbc.com/news/business-44498484

”... Has a tit-for-tat tariff spat between China and the U.S. shifted from a skirmish to a full-blown trade war?
That is certainly how financial markets have been trading on Friday after President Donald Trump earlier in the day announced tariffs on $50 billion worth of Chinese imports and Beijing’s Commerce Ministry said it would immediately launch tariffs on U.S. goods in “equal scale and equal strength.”

Wall Street didn’t like the escalation of tensions that appeared to some as if the rhetoric between the world’s largest economic powers had devolved into a more concrete dispute that could ripple through global economies. The Dow Jones Industrial Average DJIA, -0.34% tumbled more than 200 points to 24,962 Friday afternoon. The S&P 500 index SPX, -0.11% meanwhile, was down 0.4% at 2,771, while the Nasdaq Composite Index COMP, -0.19% traded 0.3% at 7,735.

“Now, we are in an official trade war with China,” said Peter Boockvar, chief investment officer at wealth manager Bleakley Financial Group. Boockvar described the tariffs as a “buzzkill” for the markets after a string of upbeat economic reports that ought to provide support to prices rising....”

https://www.marketwatch.com/story/stock-market-investors-see-china-tariffs-as-a-buzzkill-and-are-acting-as-if-a-genuine-trade-war-just-erupted-2018-06-15

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