The United States is preparing new tariffs against all remaining Chinese imports if trade talks between Presidents Donald Trump and Xi Jinping fail to reconcile the ongoing trade dispute, according to Bloomberg News.
The U.S. stock market fell immediately after the report, with shares of global aerospace and aircraft maker Boeing falling more than 5 percent. The Dow Jones Industrial Average traded more than 50 points lower, erasing a 350-point gain earlier in the session; the S&P 500 hovered at flatline.
The White House did not immediately respond to CNBC’s request for comment.
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