China Hit With 54% "Reciprocal Tariff" Rate Following Trump Address. 3 Things Pinduoduo Stock Investors Should Know
Stocks plunged on Thursday in response to President Donald Trump's "reciprocal tariffs."While the president had telegraphed his desire for punitive tariffs to try to balance the trade deficit the U.S. has with much of the world, investors were taken aback by their size. China has long served as a scapegoat for Trump so perhaps it's not a surprise that goods imported from China will now face a 54% tariff, which includes a 20% rate the president imposed earlier.U.S. stocks tumbled on the news, but the impact on Chinese listings was much more modest, as the iShares MSCI China ETF was down just 0.9% on Thursday.Continue reading
Stocks plunged on Thursday in response to President Donald Trump's "reciprocal tariffs."
While the president had telegraphed his desire for punitive tariffs to try to balance the trade deficit the U.S. has with much of the world, investors were taken aback by their size. China has long served as a scapegoat for Trump so perhaps it's not a surprise that goods imported from China will now face a 54% tariff, which includes a 20% rate the president imposed earlier.
U.S. stocks tumbled on the news, but the impact on Chinese listings was much more modest, as the iShares MSCI China ETF was down just 0.9% on Thursday.
