Trade Wars Could Push Market Down 20%

Trade Wars Could Push Market Down 20%

President Trump’s plan to impose large tariffs on many nations was the primary driver of the 20% drop in the S&P 500 that began on April 2 of this year. Among the largest tariff plans was to raise tariffs on China to 54%. Briefly, it was suggested that the China tariff would be 245%. That means America’s largest trade partners—China, Canada, and Mexico—faced a financial catastrophe that would deeply wound their economies and might push U.S. infl…