Ratcheting up pressure just hours ahead of talks in Washington, China vowed Thursday to retaliate if President Donald Trump goes ahead with more tariff hikes in a dispute over trade and technology.
Beijing will be forced to impose "necessary countermeasures" if the increases take effect Friday as planned, the Commerce Ministry said. It gave no details of possible penalties.
Stock markets fell for a third day Thursday after the volley of threats reignited jitters about global economic growth. Before this week's acrimony, both sides said negotiations were making progress, which helped to stabilize financial markets. But economists warned a deal might be further away than investors hoped.
American officials also want Beijing to reduce subsidies they say violate Chinese free-trade pledges and to narrow its multibillion-dollar trade surplus with the United States. Beijing has an array of other weapons including launching tax, anti-monopoly or other investigations that can hamper a company's operations.
"Mentally and materially, China is much better prepared than its U.S. counterpart," the newspaper said.
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