US vs China trade war: Beijing hits back at Washington with 84% reciprocal tariff on all imports

The ongoing tussle between China and Trump continued after Beijing raised tariffs to 84% on goods coming from the United States in an additional countermeasure. Previously, China said it would levy 34% tariffs on all US goods. China's move comes after Trump's tariffs of 104% went into effect on Chinese exports to the US. Following the retaliation by Beijing, US stock index futures moved sharply lower on Wednesday. At 07:08 a.m. ET, Dow E-minis were down 709 points, or 1.87%, S&P 500 E-minis were down 86.5 points, or 1.72% and Nasdaq 100 E-minis were down 250.75 points, or 1.45%.