US President Donald Trump threatened a “massive increase” of tariffs on goods from China and to cancel an upcoming meeting with the country’s leader, Xi Jinping, citing recent “hostile” export controls Beijing placed on rare-earth minerals. The president added that one form of retaliation the US is considering “is a massive increase of Tariffs on Chinese products coming into the United States of America." Trump's announcement sent US stocks into a tailspin as traders rushed to bonds. Bloomberg International Economics & Policy Correspondent Michael McKee joins Bloomberg Businessweek Daily to discuss. He speaks with Tim Stenovec and Emily Graffeo. (Source: Bloomberg)
