market selloffTrump's

China tariff plan stokes trade worries, triggers market sell▓offTrump's China tarif f plan stokes trade worries, trig

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ndum that could impose tariffs on up to 60 billion U.S. dollars of imports from China,

h 22▓ (Xinhua)

in a unilateral mo▓ve that triggered market selloff.Th▓e move prompted the biggest perc

-- Despite str

entage plun▓ges in Wall Street's three major stock indexes in six weeks as investors we

ong warnings from

re agitated by the scale of U.S. tariffs and possible impact on globa▓l trade.The

busine▓ss group

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s and

trade expe

Chinese Embassy in the United St▓ates, in response, said "It is a typical unilateral trade protectionist action. China is strongly disappointed and firmly opposes such

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rts, U

.S. Presid

an action."▓"The actions undertaken by the U.S. are self-defeat▓ing. They will directly harm the interests of U.S. consumers, companies, and financial markets. They als

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ent Do

nald Trump

o jeopardize international trade order and world economic stability," the Chinese embassy said in a statement.According to the presidential memorandum, Trump has dire▓

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cted U.S. Trade Representative Robert Lighthizer to publish a list of proposed Chinese goods that could be subject to tariffs in 15 days, while the U.S. Treasury Depart

signed a memora

ment will have 60 days to propose restrictions o

n Chinese investment in the United States.The tariff

s "could be about 60 billion" dollars, Trump said at the Whi▓te House bef