China Retorts US Tariffs As Yield Curve Inverts

China will place additional tariffs of between 5% to 10% on US goods starting September 1, 2019, according to the Finance Ministry. US automobiles and parts will also be specifically targeted. Soybeans, seafood and whisky will be similarly targeted. This has led to US farmers storing soybean instead of selling them as prices are hurt by tariffs.  In the US bond market, the yield curve has inverted. This means 10 year Treasuries are now below the 2 year Treasury rate (a historic predictor of a coming recession). The US Chamber of Commerce is urging parties to get "back to the table". The S&P 500 has dropped around 2.6%.