Stocks tumble as China issues tariff retaliation

© Skypixel

As expected, China has retaliated. And now it seems the US will retaliate to the retaliation. China today announced a wave of new tariffs on several thousand items. According to Bloomberg just shy of 2,500 items will be hit with 25% tariffs, while 20% tariffs will be imposed on more than 1,000 items, with tariffs of 10% due for 974 items, and 595 items taking a hit of 5%. According to a statement on the Chinese ministry of finance’s website, ...