President Donald Trump’s trade war is slamming the stock market and risks damaging the global economy, as well as his own reelection chances, according to Strategas head of policy research Daniel Clifton.
“Trump is trading away his reelection,” said Clifton.
Stocks posted their worst day of the year on Monday after China retaliated to Trump’s 10% tariffs on another $300 billion in Chinese goods. The battle continued into Monday evening with the Trump administration officially labeling China a currency manipulator, just months after it had said China’s handling of its currency was not in violation of the law.
