China Says it Will Retaliate Against Additional US Tariffs

China said it “strongly opposes” President Donald Trump's decision to impose an additional 10 percent tariff on $300 billion worth of Chinese goods and it will respond with “necessary measures,” according to an unofficial translation of an Aug. 2 statement from the Ministry of Commerce spokesperson.

China said the move is a “serious violation of the consensus” reached between the two sides at the G-20 Summit and “deviates from the correct track and is not conducive to solving the problem.” China also said the tariffs will “have a declining impact” on the world’s economy. "If the US imposes tariff measures and implements them, China will have to take necessary counter-measures to resolutely defend the core interests of the country and the fundamental interests of the people. All the consequences will be borne by the US."

The spokesperson said “it is hoped that the US will correct its mistakes in a timely manner, solve problems on the basis of equality and mutual respect, and return to the right track.”