Local Companies Impacted By President’s Tariffs Proposal Against China

Deere and Company, Arconic, and Caterpillar are trying to recover after big sell-off of stocks last week.

All three companies lost between 6% and 7% last Thursday and Friday, March 22nd and 23rd. Deere lost $10.05, or 6.4%. Caterpillar lost $11.51, or 7.4%, and Arconic lost $1.41 or 5.8%.

Our Financial Expert, Investment Adviser Mark Grywacheski, appears live on Good Morning Quad Cities every Monday. On Monday, March 26th, he said the reason for last week's decline was President Donald Trump's proposal to put tariffs on China. Grywacheski said the President has long viewed China as the worst offender of unfair trade policies that harm American companies.

"Many U.S. companies have complained that to operate in China, they're required to turn over technology and intellectual property, in effect, to the Chinese government," he explained. "This would impose a 25% tariff on up to $60B of Chinese imports and place restrictions on China's ability to obtain this technology/intellectual property."

There was some good news that came out of last week though. Click here to hear what happened during the Federal Reserve's meeting and how it impacts you and your money.