Steve Moore identifies who made the market tank Friday and why

Economist Steve Moore told Fox News host Jesse Watters on Friday that China is the “real villain” responsible for Friday’s sharp downturn in the market.

U.S. stocks nosedived for the second consecutive day, with the Dow Jones plunging 2,200 points, after President Donald Trump announced sweeping new tariffs, which rattled global markets. During an appearance on “Jesse Watters Primetime,” Moore talked about China and what he called its retaliatory measures against U.S. economic policies.

“The real villain here is China. And, as you know, the reason the market tanked today is because China tried to retaliate against it. I think that was like an economic declaration of war against the United States,” Moore said.

Moore said that the United States must unify its allies against what he said was China’s harmful economic tactics.

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“They are an enemy of the United States. They’re engaged in predatory trade practices. They don’t play by the rules. They cheat, and they steal. That’s the country we have to bring to heel here,” Moore said.

With the U.S. already deeply entrenched in this trade war, Moore said he’s confident that victory could severely weaken China’s economic standing.

“They cannot win a trade war with the United States. They cannot possibly win that. And Trump is using that leverage to force them to play by the rules,” Moore said.

China has announced a 34% tariff on all U.S. imports, set to take effect on April 10, as retaliation against Trump’s tariffs, the country’s Finance Ministry said last Friday. Trump, in response, said on Truth Social that China “played it wrong.” Trump said his economic policies will lead to a “boom” in the stock markets.

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