FX.co ★ China to hit back if US slaps new tariffs

China will retaliate in case the United States implements new tariff measures, the country’s commerce ministry warned. The move follows Donald Trump’s threat to put levies on virtually all Chinese exports to the US.

On Friday, the US president said he was ready to roll out tariffs on nearly all goods imported from China to the United States. He signaled his intention to impose tariffs on $267 billion, in addition to the proposed duty to be levied on $200 billion of Chinese goods.

Amid an escalating US-China trade war, both countries have imposed $50 billion in tariffs on each other’s imports since July 2018.