Equity markets are under pressure amid news that President Trump will sign a memorandum this afternoon "targeting China's economic aggression." Tariffs on Chinese imports worth as much as up to $60B could be unveiled, stoking fears of a global trade war. According to several sources, China is already preparing to retaliate with tariffs of their own focused on U.S. exports of soybeans, sorghum and live hogs.
Economy
"The U.S. stands ready to defend our producers that may be harmed by foreign country retaliation, in particular farmers and ranchers who are often the first to be