White House looking for $100 Billion deficit reduction with China
The US major indices has given up their gains and trade above and below the unchanged line.
There was report from Dow Jones that the US wants a $100B reduction in the deficit with China. The White House is looking to put tariffs of $60B of goods from China.
The trade deficit with China in 2017 was $375 billion. Shares of Boeing are down today on fears that China may retaliate against the company with it's own tariffs. The price is down -2.35%
Just out as well is that Goldman Sachs has reduced their 1Q GDP estimate to 2% from 2.5% as a result of the weaker than expected US retail sales this morning. Later this morning the Atlanta Fed will release their estimate for 1Q GDP. The last cut from Friday came in at 2.5%.
