The standoff with China 'cuts to the core of what the United States is going to be in the future,' says the hardline ex-White House chief strategist.
The standoff with China "cuts to the core of what the United States is going to be in the future," Bannon said in aWith trade talks at a stalemate, the U.S. is considering putting tariffs on the remaining billions and billions of dollars worth of Chinese goods coming into the U.S. Last week, the Trump administration followed through on its threat and increased duties on $200 billion worth of Chinese products from 10% to 25%.
in value — the type of decline that if it were to persist could put a real drag on U.S. economic growth. The index made some of that back with Tuesday's nearly 1% recovery after Monday's 2.4% decline. Despite the knock from trade concerns, the S&P 500 was still only 4% away from its May 1 all-time intraday high, and up more than 20% since the 2018 low on Christmas Eve.
U.S. officials have repeatedly said the Chinese stock market and economy has suffered more than those in the U.S., and will continue to bear the brunt. On Wednesday, China
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