Analysts React to Escalating Trade Tensions
Both Chinese and U.S. stocks plunged in response to increasing trade tensions between China and the U.S., as Beijing unveiled a reprisal list Friday morning targeting $3 billion in U.S. imports, coming shortly after Trump’s decision to slap punitive new tariffs on up to $60 billion of Chinese goods.
Trump signed Thursday’s memorandum, which is likely to target Chinese exports in the high-tech and communication industries, after an investigation by the U.S. under the rarely used Section 301 of the 1974 Trade Act identified alleged misappropriation of intellectual property by China.
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