(NBC News) Stocks took a beating Thursday, with the Down Jones industrial average dropping 723 points amid worsening fears of a trade war.
The drop came as President Trump announced new tariffs on nearly $60 billion worth of Chinese goods.
Mr. Trump insists the tariffs stop other countries from taking advantage of America.
“If they charge us, we charge them the same thing. That’s the way it’s got to be,” the president said.
China is promising to retaliate, with industries from agriculture to airplanes in the cross-hairs.
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