The Dow Jones Industrial average closed 458 points down, as Beijing slapped tariffs on US imports in retaliation for US steel and aluminum tariffs and President Donald Trump blasted online retail giant Amazon.
On Monday, Beijing imposed a 15 percent duty on 127 US products, as well as a 25 percent tariff on pork, in retaliation for Trump’s recent tariffs on Chinese exports.
“China and the United States are the world’s two biggest economies, and cooperation is the only correct choice,” the Chinese Ministry of Commerce said announcing the tariffs, adding that it hoped the US would rescind its tariff decision “as quickly as possible.” (Click to Source)
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