US markets tumble as President Trump says China 'played it wrong' in tariffs retaliation | BBC News

The US markets have tumbled down after China hit back against President Donald Trump’s raft of tariffs.

China - which faces a 54% import tax - said it would retaliate with an additional 34% tax on American goods from 10 April, prompting a further fall in European markets.

Indexes in the UK, Germany and France have all dropped down by more than 3%. Asian markets also dropped earlier.

Meanwhile, writing on his Truth Social account, the US president said “China played it wrong, they panicked,” adding that his policies would “never change”.

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Post from BBC News on April 04, 2025