China Trade War Heats Up as Amazon and Online Retailers Begin Raising Prices While Trump wants $1 Trillion for the Military
President Trump apparently put out a false post on his Truth Social platform today claiming that China was ready to cut a deal and that he was waiting for a phone call from China that initially caused the U.S. Stock Market to soar higher in early day trading, but when the White House confirmed that tariffs against China will now be 104% after midnight tonight, the Stock Market went back into a free fall and ended up in negative again today. China shows no signs of caving in, and continues to vow to "fight to the end." Amazon.com and other online retailers are beginning to raise their prices, with some websites reportedly adding a “Trump liberation tariff” fee at checkout. Meanwhile, Trump is requesting $1 trillion for a new defense budget, which would be the largest in U.S. history, just two months after he promised to slash the military budget in half, proving that he is not interested in balancing the budget by reducing spending, but by asking the rest of the world to fund our wars and our economy through tariffs.