Oil Tumbles 8% as China Retaliates with Tariffs on U.S.
April 4th, 2025Via: Reuters:
Oil prices plunged by 8% on Friday, heading for their lowest close since the middle of the pandemic in 2021, as China hit back in an escalating global trade war with the U.S. after President Donald Trump’s barrage of levies this week.
China announced it will impose additional tariffs of 34% on all U.S. goods from April 10. Nations around the world have readied retaliation after Trump raised tariff barriers to their highest in more than a century, leading to a plunge in world financial markets.
