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Stocks Plunge After Trump Vows To Retaliate To China “This Afternoon”, Orders US Companies To Find “An Alternative To China”

Zero Hedge – by Tyler Durden

Anyone who was hoping for a quiet end to the week is currently having a panic attack, as first China announced new tariffs on the US, then Powell’s J-Hole speech came and went, and then, as we expected, Trump responded to China’s trade war escalation when in a barrage of 4 tweets he lashed out at Beijing, saying “We don’t need China and, frankly, would be far better off without them“, and ordered “Our great American companies… to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.” 

He also ordered “all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop – it didn’t.”

The reason for Trump’s ire: the continued theft of US IP over the years:

Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far better off without them

But Trump wasn’t finished, and filling traders with dread what he may announce next, he promised that “I will be responding to China’s Tariffs this afternoon.”

We can’t wait to see what Trump unveils in his pursuit of Quantitative Easing sparked by global economic war, just as we explained three days ago in “Mr. President, This Is How To Get The Fed To Launch Quantitative Easing“.

From Trump:

Our Country has lost, stupidly, Trillions of Dollars with China over many years. They have stolen our Intellectual Property at a rate of Hundreds of Billions of Dollars a year, & they want to continue. I won’t let that happen! We don’t need China and, frankly, would be far better off without them.

The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP.

Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.

I will be responding to China’s Tariffs this afternoon. This is a GREAT opportunity for the United States.

Also, I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!). Fentanyl kills 100,000 Americans a year. President Xi said this would stop – it didn’t.

Our Economy, because of our gains in the last 2 1/2 years, is MUCH larger than that of China. We will keep it that way!

Both yields and stocks tumbled on this “unexpected” escalation…

… while the dollar plunge accelerated amid the earlier chatter that Trump may announce FX intervention “shortly” …

… which in turn sent gold soaring to $1,530.

https://www.zerohedge.com/news/2019-08-23/stocks-plunge-after-trump-vows-retaliate-china-afternoon-orders-us-companies-find

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13 Responses to Stocks Plunge After Trump Vows To Retaliate To China “This Afternoon”, Orders US Companies To Find “An Alternative To China”

  1. mary in tx says:

    israel will benefit

  2. galen says:

    Not that I understand all the ins and outs of trade, but China responds:

    https://legalinsurrection.com/2019/08/china-retaliates-with-tariffs-on-75-billions-of-more-u-s-goods/

    .

  3. KOYOTE says:

    I HOPE THIS ASSHOLE COMES COMPLETELY UNGLUED, DESTROYING NAFTA AND GATT…………WE HAVE WHAT WE NEED HERE………………..

    • KOYOTE says:

      WE STILL EVEN HAVE THE INFRASTRUCTURE FOR LAND LINE PHONES………WE NEED TO CLOSE THESE DAMN BORDERS AND PORTS, AND LEAVE THESE CHINKS, JAPS, BEANERS AND WOPS ALONE……… WHATS THAT I HEAR? SOME KIKE SCREAMING,”RACIST”?.
      WELL, WE WONT RUN YOU GUYS OFF, WE’LL JUST HANG YOUR CRIMINAL ASSES……..

  4. flee says:

    I just don’t see anyway to dig out of China’s grips…..

    I mean, I guess we could move all the factories to indonesian slave labor for our iphones.

    Still that would take quite some time to accomplish.

    I think we do have enough slave labor here now with our open borders to accomplish this much quicker.

    But there are alternatives and I think I have one possible solution…, and with the thoughts of cannibalism looming around the internet now like a bad case of pre-ebola-gonnorhea.

    Well…… , I have a suggestion for one viable solution….

    We just start eating the fkers.

    I mean there’s a goddamed Chinese restauraunt in every fkng town for Christ sake…….

    We just start serving em’up there.

    And from what I hear……humans don’t taste like chicken.

    They taste more like pork.

    Plus we need some repairs on our railroad system.

    This commentary was sponsored in part by:

    “GlobalCorp.”

    “Providing Viable Practical Solutions”
    ” In a World, with Phucked Up Answers”.

  5. # 1 NWO Hatr says:

    “We don’t need China and, frankly, would be far better off without them.”

    Will wonders never cease.

    Sonuvab#tch actually told the truth for once.

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