** Shares of U.S.-based construction and farm equipment makers fall premarket after China imposed 34% retaliatory tariffs on all U.S. goods
** Beijing's retaliatory tariffs add to an earlier 10% tariff it placed on the industry in March, impacting companies such as Caterpillar CAT.N, Deere DE.N, CNH Industrial CNH.N and AGCO AGCO.N
** Shares of CAT down more than 6%, DE drops 2.9%, CNH loses 4.4% and AGCO falls more than 5%
** The move comes after Trump's announcement of imposing 34% tariff on China, on top of the 20% he imposed earlier this year, bringing the total new levies to 54%
** YTD, Dow Jones U.S. Industrials Index .DJI has fallen 13%
(Reporting by Abhinav Parmar in Bengaluru)
((abhinav.parmar@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.