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From CNN, I'm AfomaDK, with the five things you need to know for Tuesday, April 8th.

A massive rally on Wall Street turned into yet another sizable decline. With the Dow falling 320 points, S&P falling 1.57 percent, and NASDAQ sliding 2.15%.

That's after White House Press Secretary Caroline Levitt said President Donald Trump would

levy enormous tariffs on China.

When America is punched, he punches back harder. That's why there will be 104% tariffs

going into effect on China tonight at midnight. But the president believes that she and China

want to make a deal. They just don't know how to get that started.

Here's CNN's Matt Egan.

That is unthinkably high level.

You know, when you think about this, is the two of the world's largest economies,

major trading partners.

The U.S. imports a lot of electronics, smartphones and toys and clothes from China,

and now they're going to be facing this massive

tariff. And there's all these country-specific tariffs that are also going to be kicking in

tomorrow. The White House says Trump told his trade team to make, quote, Taylor made deals with

countries that want to negotiate. A spat over tariffs between Elon Musk and President Trump's senior trade advisor, Peter Navarro,

seems to be heating up. CNN's heados gold has more.

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