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Trump Tariff Chaos: Stock Market Plunges in Record Two-Day Wipeout After China Retaliates With 34% Levy on U.S. Products
Stocks dropped sharply for a second day after China set retaliatory tariffs countering President Trump's own steep import duties.
Stocks in the U.S. and overseas dropped sharply for a second day on continued fears that President Trump’s sweeping tariffs on foreign imports would ignite a massive trade war and lead to an economic recession. Adding fuel to the stock downward spiral: The Chinese government announced Friday a blanket 34% tariff on American products, effective April 10. Ahead of the new tariffs taking effect, U.S. consumers are rushing to buy products subject to the higher levies like HDTVs and workout apparel as well as stocking up on groceries, the Wall Street Journal reported.
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