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Stocks rise in China after Beijing announces support measures a day after market plunges triggered by tariffs imposed by President Trump.
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The country's commerce ministry called President Trump's threat to escalate tariffs on China by another 50 percent "blackmail."
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After President Trump levied tariffs on nearly every country in the world — catapulting the global economy into chaos — some Republicans in Congress want to take back the power of international taxation.
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Undeterred by a stock market collapse that has continued for days, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war.
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Stocks just had their worst week since the start of the pandemic in March 2020 after President Trump unveiled new tariffs. And the pain will likely get worse this week.
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