Stocks Crater After Trump’s ‘I Am Tariff Man’ Tweet
The S&P 500 dropped more than 3 percent after President Donald Trump bragged about being “Tarriff Man” on Twitter, notes the New York Times.
….I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so. It will always be the best way to max out our economic power. We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN
— Donald J. Trump (@realDonaldTrump) December 4, 2018
Trump’s tweet brought into question the status of a truce in the trade war between the United States and China. The trade war was supposed to have been put on pause for 90 days as of Dec. 1 “while the two sides try and reach a formal trade deal,” reports The New York Times.
But Trump’s tweet on Dec. 4 seemed to undercut the agreement.