Victoria's Secret's Shared Fall After China Announces New Tariffs
China announced it would create tariffs on $60 billion of U.S. goods starting in June.
The announcement comes after Trump raised duties to 25 percent on $200 billion worth of Chinese products.
According to Business Insider, China’s announcement caused U.S. stocks to drop.
Fashion companies like Victoria’s Secret saw their shares fall more than 5 percent.
Investors feat that higher tariffs will increase the costs of shipping merchandise to and from China.