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Donald Trump calls for Jay Powell's head and pledges to beat China in 'little spat' that caused the Dow to drop 623 points in one day

*After a day of attacks, Trump announced new tariffs on billions of Chinese goods and directed American companies to take their business elsewhere

*Trump also unloaded on Fed chairman Jerome Powell, calling him the 'enemy' and misspelling his name in a tweet
Compared him to Chinese President Xi Jinping amid angry standoff over trade

*China announced tariffs on $75 billion of U.S. products, and the U.S. retaliated by raising penalties to 30 percent on $250 billion of goods

*Said the U.S. was 'better off' without China - precipitating a massive stock selloff

By FRANCESCA CHAMBERS, SENIOR WHITE HOUSE CORRESPONDENT and GEOFF EARLE, DEPUTY U.S. POLITICAL DIRECTOR FOR *DAILYMAIL.COM

PUBLISHED: 00:10 EDT, 24 August 2019 | UPDATED: 04:24 EDT, 24 August 2019