Donald Trump has ordered the U.S. to draw up a list of $60 billion worth of Chinese goods to be targeted for tariffs, in what the president says is a bid to reduce the U.S. trade deficit. In response, China immediately listed 128 U.S. products it’s targeted for reciprocal tariffs—including steel, wine, fresh fruit and pork. Trump’s announcement set off fears of a trade war and sent stock indices around the world plummeting, with the Dow Jones losing more than 720 points Thursday.