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Inventories fell on Friday, wiping out slight gains, after a report that President Donald Trump wants to move ahead with a $ 200 billion tariff on Chinese products.
Bloomberg News first reported that Trump had asked its employees to continue charging prices on the $ 200 billion worth of Chinese goods.
Boeing shares modest gains for a trade up 0.8%, while Caterpillar has erased its gains and was down 0.3%. Boeing and Caterpillar are considered pillars of global trade given their large international exposure.
"Trade has been the focus of concern this week and last month," said Benjamin Lau, chief investment officer at Apriem Advisors. "But the discreet reaction shows that investors are a bit complacent (…) I think investors are neglecting that."
The report came after sources close to the talks told CNBC on Wednesday that the US was about to propose a new round of trade talks with China in the near future.
It also comes after a week of turbulence between the two countries, which saw China seek approval from the World Trade Organization to impose sanctions on the United States and President Donald Trump last week. with an additional amount of tariffs.
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