Happy now, ‘Tariff Man’? Dow down 800

D’oh! Jones.

Following a 288-point uptick Monday, the Dow Jones plummeted nearly 800 points Tuesday amid fears that a U.S. trade war with China is about to escalate.

The week began with the stock market responding positively to President Trump agreeing at last week’s G-20 summit to put a 90-day suspension on a Jan. 1 plan to impose a 25% tariff on $200 billion in Chinese goods while the two nations renewed negotiations. The U.S. currently places a 10% tariff on Chinese goods.

The market cooled Tuesday, as did Trump’s enthusiasm, when the President tweeted that he is “seeing whether or not a REAL deal with China is possible” before warning: “Remember . . . I am a Tariff Man.”

The President had tweeted Monday that he and Chinese President Xi Jinping “have a very strong and personal relationship” and that U.S. relations with China had taken “a BIG leap forward!”

On Sunday, Trump also seemed optimistic tweeting that China had agreed to reduce the 40% tariff it places on cars imported from the U.S. The Dow closed Tuesday at 25,027.07.