The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 17, 2018. REUTERS/Staff
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European shares shuddered, then recovered, Tuesday after Beijing retaliated with new tariffs on $60 billion worth of U.S. goods, less than 24 hours after U.S. President Donald Trump imposed 10 percent tariffs on an additional $200 billion worth of Chinese imports. Having shrugged off the U.S. move in morning trading, the pan-European STOXX 600 tumbled to a session low after China's retaliatory blow, down as much as 0.2 percent while the leading index of eurozone stocks fell 0.1 percent.Both indices recovered rapidly, though, as it became clear the tariff levels announced by China were lower than previously expected – imposing 5 to 10 percent tariffs on U.S. goods it had previously listed for 10 to 20 percent tariff rates.
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