Dow Jones plunges after Trump unveils $US60b tariffs on China
The ABC |
22 March 2018
Wall Street has plunged over fears of a US-China trade war, after the Trump administration moved to impose tariffs on up to $US60 billion ($77 billion) worth of Chinese imports.
Mr Trump signed a presidential memorandum that will target the Chinese imports but only after a consultation period.
China will have space to respond, reducing the risk of immediate retaliation from Beijing.
Mr Trump said the move was intended to punish China for alleged intellectual property theft.