China on Friday threatened retaliation if U.S. President Donald Trump's planned tariff hikes go ahead, while the renewed acrimony between the two biggest global economies sent stock markets tumbling. China's government accused Trump of violating his June agreement with President Xi Jinping to
BEIJING — China on Friday threatened retaliation if U.S. President Donald Trump's planned tariff hikes go ahead, while the renewed acrimony between the two biggest global economies sent stock markets tumbling.
"We don't want to fight, but we aren't afraid to," Hua said at a regular news briefing. She called on Washington to"abandon its illusions, correct mistakes, and return to consultations based on equality and mutual respect." Trump's announcement surprised investors after the White House said Beijing promised to buy more farm goods. It came as their latest trade talks ended in Shanghai with no sign of a deal. Officials said they would resume next month in Washington.
The Dow Jones Industrial Average declined 1% to 26,583.42. The Nasdaq composite ended 0.8% lower at 8,111.12.
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