TAL Education Group (TAL) saw its stock plummet 8.81% in pre-market trading on Friday, as Chinese companies listed in the U.S. face significant pressure following China's announcement of retaliatory tariffs on American goods.
The Chinese Finance Ministry declared on Friday that it would impose additional tariffs of 34% on all U.S. goods starting April 10. This move comes as a direct countermeasure to the sweeping tariffs implemented by U.S. President Donald Trump on Wednesday. The escalating trade tensions have sparked a broad sell-off in U.S.-listed Chinese stocks across various sectors.
TAL Education Group, along with other Chinese education firms like Gaotu Techedu Inc and New Oriental Education & Technology Group Inc, is caught in the crossfire of this economic dispute. The education sector is not alone in feeling the impact, as e-commerce giants, EV manufacturers, and technology companies are all experiencing substantial pre-market declines. This widespread downturn underscores the far-reaching implications of the ongoing trade conflict between the world's two largest economies.
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