China has warned that it will respond strongly to the actions of Donald Trump after his decision to introduce additional tariffs on Chinese imports. About this informs Bloomberg.
“If the US insists, China will respond with all necessary measures to protect its legitimate rights and interests,” – said a representative of the Ministry of Commerce of the People’s Republic of China.
Beijing’s statement came hours after Trump announced a new 10% tariff that would take effect on March 4. The levies are on top of a 10% tariff already imposed earlier this month and are part of Trump’s broader trade policy that covers technology and investment.
Amid the news, Chinese stocks listed in Hong Kong continued to slide, losing as much as 3.9%, their biggest one-day decline since October. The continental CSI 300 index fell 1.9%, heading for its first weekly decline in a month.
The offshore yuan strengthened about 0.1% to 7.29 per dollar, partially paring overnight losses after the People’s Bank of China signaled its desire to stabilize the currency. Bond yields fell across the curve on fears of economic growth amid the threat of new US tariffs.
