Stock markets worldwide are careening even lower Friday after China matched US President Donald Trump’s big raise in tariffs in an escalating trade war. China’s response to US tariffs caused an immediate acceleration of losses in markets worldwide.
The Commerce Ministry in Beijing said it would respond to the 34% tariffs imposed by the US on imports from China with its own 34% tariff on imports of all US products beginning April 10. The United States and China are the world’s two largest economies.
