Markets reacted negatively to an announcement from President Donald Trump Friday that the U.S. would nail China with a massive hike in tariffs.

The president said he was responding to "extraordinarily aggressive" action taken by the third-largest trading partner to the U.S., behind Canada and ahead of Germany.

'It is impossible to believe that China would have taken such an action, but they have, and the rest is History. Thank you for your attention to this matter!'

Trump posted the statement on Truth Social just ahead of the stock market close.

"It has just been learned that China has taken an extraordinarily aggressive position on Trade in sending an extremely hostile letter to the World, stating that they were going to, effective November 1st, 2025, impose large scale Export Contr

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