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HomeTrading RoomAs China Declares Retaliatory Tariffs on U.S. Goods, Stock Futures Decline

As China Declares Retaliatory Tariffs on U.S. Goods, Stock Futures Decline

Following China’s imposition of tariffs on U.S. imports in retaliation for U.S. penalties on Beijing exports, stock futures turned around and fell early Tuesday.

Effective February 10, the Chinese government imposed 10% higher taxes on crude oil, farm equipment, and some automobiles, as well as up to 15% tariffs on U.S. imports of coal and liquefied natural gas.

S&P 500 futures dropped roughly 0.24%, while futures linked to the Dow Jones Industrial Average dropped 93 points, or 0.21%. Futures for the Nasdaq 100 fell 0.2%.

In a Monday night post on the social media platform X, Canadian Prime Minister Justin Trudeau declared that Trump has committed to postpone the imposition of tariffs on Canada for a minimum of 30 days.

The action appeared to restore positive mood in the market.

Source (CNBC)

SourceCNBC
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