China vowed to retaliate against US companies after President Donald Trump threatened to place tariffs on another $200 billion in Chinese imports, deepening a trade dispute between the world’s two biggest economies. In an immediate rebuke to Trump, the Ministry of Commerce in Beijing said it would retaliate with "strong" counter measures.
"If the US loses its sense and publishes such a list, China will have to take comprehensive quantitative and qualitative measures and retaliate forcefully," according to a statement from the ministry. Markets soured on the news, with Asian stocks and US equity futures trading lower while safe havens including the yen, gold and Treasuries climbed. In a White House statement Monday evening, Trump said that he had instructed the US Trade Representative’s office to identify $200 billion in Chinese imports for additional tariffs of 10 per cent. He said the US would impose tariffs on another $200 billion after that if Beijing retaliates.
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