8/23/2019, 5:04 PM (Source: TeleTrader)
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Trump: We are far better off without China

United States President Donald Trump took to Twitter on Friday, railing at China for stealing US "intellectual property at a rate of hundreds of billions of dollars a year," pledging to stop it from happening in the future. He stated that the US is "better off without them" and advised American companies should find alternatives to China.

"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," Trump tweeted. He vowed to respond to the latest batch of Chinese tariffs "this afternoon," claiming that the situation is "a GREAT opportunity for the United States." The president ordered "all carriers, including Fed Ex, Amazon, UPS and the Post Office" to search for and deny all deliveries of fentanyl from China, blasting Chinese President Xi Jinping for not putting an end to fentanyl pouring out of the country.

Earlier, China revealed retaliatory tariffs on $75 billion worth of US goods ranging from 5% to 10%, according to the State Council’s Customs Tariff Commission.

Trump's announcement sent the stock markets plunging, with the Dow losing over 300 points in a matter of minutes.

Breaking the News / GG