*By Madison Alworth* The Dow Industrials marked two down days since latest round of tariffs against China kicked in. But analyst Art Hogan still remains confident in the market. "The fact that this market is okay with the fact that we took $200 billion worth of goods from China, put tariffs on those, and are threatening another $267 billion, and we haven't really sold off ー I think that shows a resilient market," Hogan, a chief market strategist for B. Riley FBR, said Tuesday in an interview on Cheddar. For Hogan, the market has reacted more to the news of tariffs, less so to the actual tariffs themselves. In a [report](https://brileyfbr.bluematrix.com/sellside/EmailDocViewer?encrypt=96a29f78-9d57-478d-bc2c-c536c8515f45&mime=pdf&co=fbr&id=lhatton@brileyfbr.com&source=libraryView) published by B. Riley FBR, Hogan and his colleagues said, "Negative rumors solicit most reaction from market...as trade news becomes stale or static as time passes, the impact is recovered." But over $200 billion is no joke. And the rate is set to increase from 10 percent to 25 percent at the end of the year ー unless, that is, Trump meets China at the table again. "We are hoping what we get is some sort of rational thought process that gets us back to the negotiation table. I think that happens around November, around the G20 Summit ー choreographed for the election cycle, choreographed for the midterms," Hogan said. In Hogan's estimation, the markets can withstand the latest tensions. And he warns against taking any market too seriously, trade dispute or not. "The bark is worse than the bite." For full interview [click here](https://cheddar.com/videos/the-fate-of-the-trade-wars-and-how-consumers-will-be-impacted).

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