Trump's Tariff War Could Take US Tech Industry 'Back A Decade While China Steam Rolls Ahead'

China announced a series of retaliatory measures on Friday in response to President Donald Trump‘s tariffs on Chinese goods, escalating the trade conflict between the two largest global economies. 

The Details: China said it intends to impose a 34% tariff on all U.S. imports starting on April 10 and has tightened export controls on rare earth minerals critical for high-tech industries. 

Global financial markets have tumbled and all major U.S. indexes were deeply red for a second day amid the escalating trade war with the SPDR S&P 500 ETF Trust (NYSE:SPY) down 2.83% and the Invesco QQQ Trust (NASDAQ:QQQ) down 2.99% in early trading. 

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