Trip.com Group Limited (TCOM) saw its stock plummet 6.45% in pre-market trading on Friday, as investors reacted to China's announcement of new tariffs on US goods and restrictions on rare earth exports. The move by Beijing has sparked fears of escalating trade tensions between the world's two largest economies, sending shockwaves through global markets and particularly impacting Chinese ADRs.

The Chinese government declared it would impose additional tariffs of 34% on all US goods starting April 10, in response to recent tariffs implemented by the US. Furthermore, China announced export controls on several rare earth elements to the United States, effective immediately. These actions have led to a broad sell-off in US stock futures and Chinese ADRs listed on US exchanges.

Trip.com Group, as a major Chinese online travel service provider, is not immune to these macroeconomic headwinds. The company's stock decline reflects investor concerns about potential impacts on Chinese businesses and the broader travel industry. Other Chinese ADRs are also experiencing significant drops, with some e-commerce and tech giants seeing pre-market declines ranging from 4% to 9%. As trade tensions continue to escalate, Trip.com and other Chinese companies listed in the US may face increased volatility and investor scrutiny in the near term.