Alibaba Group Holding Ltd. (BABA) saw its stock price plummet by 5.77% in pre-market trading on Thursday, following President Donald Trump's announcement of new reciprocal tariffs on imports to the United States. The e-commerce giant's shares, which had been performing well year-to-date, took a significant hit as investors reacted to the potential impact of these tariffs on Chinese companies.

Trump's announcement included plans to impose a 10% baseline tariff on all imports to the United States, with the possibility of higher duties on some of the country's biggest trading partners. This move has particularly affected U.S.-listed shares of Chinese companies, with Alibaba being one of the most prominent victims. The news has sent shockwaves through the market, causing a broader decline in Chinese ADRs (American Depositary Receipts).

The sharp decline in Alibaba's stock price reflects growing concerns about the potential impact of these tariffs on the company's business operations and future growth prospects. As one of China's largest e-commerce platforms with significant international operations, Alibaba could face challenges in navigating the increasingly complex trade environment between the United States and China. Investors will be closely watching for any further developments in trade relations and their potential effects on Alibaba and other Chinese companies listed on U.S. exchanges.