Canada Markets close in 4 hrs 18 mins

Fresh Trade Threats Drag on U.S. Stocks

U.S. stocks slumped Wednesday as concerns over escalating trade tensions and falling oil prices outweighed optimism about the coming earnings season. The Trump administration said late Tuesday it would assess 10% tariffs on an additional $200 billion in Chinese goods. The tariffs, which wouldn’t come into effect for at least two months, cover a variety of Chinese products including consumer goods. China has pledged to retaliate against U.S. tariffs in “equal scale and equal strength.” In addition to tariffs, here are three ways Beijing could hit back at Washington.