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China ETFs, Stocks Slump on Trump Plan to Double Tariffs
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Key Points
- U.S. President Donald Trump said he is planning to double the tariffs on existing goods to count down funds and stocks traded on Chinese exchanges.
- Trump said Thursday that he would increase tariffs on Chinese products by 10% and increased tariffs by 10% in early February.
- iShares MSCI China ETF fell by about 2%.
Focus on China Trading Trade Funds (ETFs) President Donald Trump said he is Double the plan Existing tariffs from Chinese goods.
Trump said Thursday that he would increase tariffs on Chinese products by 10% and increased tariffs by 10% in early February. He also said tariffs on Canadian and Mexican products will come into effect on March 4.
iShares MSCI China ETF (milk) and iShares China Large ETF (get) Both fell more than 2% in Friday’s intraday trading.
US trading shares of Chinese enterprise group Alibaba Group (dad) and online marketplace jd.com (JD) fell by more than 2%, while Temu Parent PDD Holdings (PDD) More than 4% lower.
Nio, a Chinese electric vehicle (EV) manufacturerNeo) and Li Automatic (plum) also lost pace, down about 3%.
Still, Chinese stocks outperformed the S&P 500 this year, with MSCI Chinese ETF accounting for 14%, while the U.S. benchmark index was roughly flat.
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