China is threatening to retaliate if President Trump follows through on his promise and imposes a steep tariff increase on all Chinese goods starting on November 1st.

On Friday, the president said he would put a “massive increase” of tariffs on China after they announced export restrictions on key items, including rare-earth minerals

The apparent escalation in the trade war between the two nations sparked a sell-off

However, investors’ nerves calmed a bit on Sunday when the president attempted to bring down the temperature with China and assured Americans on a Truth Social post that things would be 'fine'.

Lou Basenese, the Executive Vice President of Market Strategy at Prairie Operating Co., joins FOX Business' Lydia Hu to discuss trade tensions, gold, government shutdown worries, and more.

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Business Rundown: President Dismisses Latest Tariff Tensions With China