Business Report Closing Bell: Rough day for world stocks after U.S. President Trump announces new tariffs SHARE ON: James Bowler, staff Friday, Jun. 15th, 2018 Could we see a looming trade war between the United States and China? That might just be the case following President Donald Trump announcing new tariffs on China Friday morning. They target $50 billion of Chinese imports, China reacting this afternoon by announcing retaliatory tariffs on $34 billion worth of US goods. That includes agriculture products. Canada’s main stock index slipped lower, dragged down by the energy and gold sectors as the price of both commodities fell. The TSX fell 14 points to 16.314. Oil fell $1.83 to finish at $65.06 per barrel. The Canadian dollar was down to 75.89 cents US. Gold plummeted $29 bucks to $1,278 US dollars an ounce.