Earlier Friday, China made an announcement that it will impose an additional 5% to 10% tariff rates to $75 billion worth of U.S. goods.
President Donald Trump later tweeted that the U.S. was “better-off” without China. He also claims he made an order to carriers such as FedEx ,UPS, Amazon.com and the U.S. Postal Service:
Trump said he will be responding to the additional tariffs later Friday afternoon.
The Dow Jones Industrial Average was down more than 420 points at time of publication.