Global stocks dipped as investors fear a potential trade war between the United States and emerging economic giant China.
The President announced that the government will be slapping duties on imports of Chinese tires which will put additional 35% levies on China-brand tires.
With this announcement, China announced that it will be making efforts to check out dumping of auto vehicles and chicken parts.
The spat sent global stocks dipping and pushed the dollar index higher. The dollar index closed at 76.931 from 76.608. The dollar has been taking a beating all year long.
Many consider the President’s announcement as a dangerous gambit that many investors of which don’t approve.
