President Trump says the U.S. will levy $60 billion worth of trade tariffs against China. The move is seen as way to curb China's predatory trade practices, but it also risks a trade war.
U.S. stock indexes surged about 3 percent Monday after fears eased of a trade war with China. The two major trading partners reportedly are negotiating to improve U.S. access to Chinese markets.
President Trump ordered tariffs on China to address complaints that the country forces U.S. businesses to give up industry secrets. Scott Simon talks with Washington Post correspondent David J. Lynch.
The Dow lost a total of more than 1,100 points in the past two days amid rising trade tensions between the U.S. and China. Japan's Nikkei dived 4.5 percent, and indexes also fell in Europe.
Historically, both sides usually lose in trade wars. But, one side often loses more than the other. While China could be hurt by the Trump administration tariffs, U.S. consumers, companies and our allies could end up being damaged more.
The president signed a spending bill Friday that, among other things, safeguards workers' tips. It blocks an earlier Trump administration move that may have allowed restaurant owners to pocket them.