• Updated

Trade talks with China have hit another snag that ended up affecting the stock market. President Trump threatened to raise import taxes on $200 billion worth of Chinese goods if the two sides can't settle on a trade agreement. The president said he'd raise tariffs to 25 percent from 10 percent. Sen. Rob Portman believes the two sides are close to a deal even with the latest threat. Portman said China is willing to make concessions to things they've never given up before. He said included in that is addressing the trade imbalance and China not stealing intellectual property.