Dow falls more than 450 points after Trump announces new China tariffs

The economy.
(Image credit: Drew Angerer/Getty Images)

President Trump on Thursday said he'll impose a new 10 percent tariff on $300 billion in Chinese goods beginning in September, prompting the Dow to take a tumble.

Trump on Twitter wrote that U.S. representatives returned from China having had "constructive" talks about a trade deal but that this "small additional tariff" will go into effect next month while negotiations continue. After a hike from Trump in May, about $250 billion in Chinese goods was affected by a 25 percent tariff, and so this "would essentially tax all Chinese products sent into the United States," writes The New York Times.

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Brendan Morrow

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.