The Dow Jones Industrial Average plunged more than 500 points by noon Thursday ahead of President Trump's announcement of new China-specific tariffs. Trump said the tariffs "could be about $60 billion" and come in response to complaints that Chinese companies "force U.S. companies operating in the country to transfer technology and intellectual property rights to local business partners," CNBC writes.
"This is the first of many," Trump vowed as he signed the memorandum. Watch some of the president's comments below. Jeva Lange
The Week
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