The daily business briefing: September 24, 2018

U.S. stocks under pressure as new U.S.-China tariffs take effect, Porsche becomes first German automaker to dump diesel, and more

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1. U.S. stock futures under pressure as new tariffs take effect

U.S. stock-index futures edged down early Monday as the latest tariffs in President Trump's trade war with China took effect. Futures for the Dow Jones Industrial Average and S&P 500 fell by just over 0.1 percent, and those for the Nasdaq-100 dropped by 0.3 percent. The Trump administration is targeting $200 billion of Chinese imports with a 10 percent levy slated to rise to 25 percent by the end of the year. China has responded with 10 percent taxes on $60 billion worth of U.S. goods, including liquefied natural gas, coffee, and edible oil, and 5 percent taxes on frozen vegetables, cocoa powder, and chemical products. China dashed hopes of a quick easing of tensions, saying it would not resume trade talks with the U.S. until Trump stopped threatening further tariffs.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.