An escalation of the trade war sent oil prices plunging on Thursday, and China is threatening to retaliate if the new tariffs come into play Oil prices fell by 7 percent on Thursday, the worst single-day performance in over four years. President Trump’s surprise announcement that he would put a 10 percent tariff on $300 billion worth of Chinese imports caused a widespread selloff in equities and oil prices. China said that it would retaliate if the tariffs go into effect. Trump left open the possibility that the U.S. could hold off, but only…
