Stock Track | Baidu Plunges 8.24% Pre-market as China Announces New Tariffs on U.S. Goods

Stock Track04-04

Baidu's stock (BIDU) plummeted 8.24% in pre-market trading on Friday, as tensions between China and the United States escalated. The sharp decline comes in response to China's announcement of new tariffs and restrictions on U.S. goods, which has sent shockwaves through the markets, particularly affecting Chinese ADRs.

The Chinese government declared it would impose additional tariffs of 34% on all U.S. goods starting April 10. Furthermore, Beijing introduced controls on exports of medium and heavy rare-earths to the United States, effective immediately. These actions are seen as retaliatory measures against the sweeping tariffs previously imposed by U.S. President Donald Trump.

The news has triggered a broad selloff in Chinese stocks listed in the U.S., with Baidu among the hardest hit. Other major Chinese tech companies such as Alibaba, JD.com, and PDD Holdings also experienced significant pre-market declines. The escalating trade tensions are raising concerns about the potential impact on Chinese tech firms' operations and their access to U.S. markets, contributing to the negative sentiment surrounding Baidu and its peers.

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Comments

  • Aenon
    04-05
    Aenon
    Weird that they feature baidu. When it's more or less a domestically Based search engine. They export anything to US?  Answer is NO
  • Max87
    04-04
    Max87
    #Triff #Tantrump #HSTECH What a joke... Chinese tech firm's revenue are near 100% domestically sourced in most cases with exception of some cross border trade from PDD Alibaba.com lmfao. Even with that exposure, it's a minor portion of the entire business. Access to American market is not a big factor in their business. The more likely case of impact is more of tariffs impact on input cost on AI investment that requires Nvidia chips. In which, they were already ban from buying it in the first place. LoL in this scenario, don't think it's an issue at all. However one thing to lookout for is the progression from here. 
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