Companies bracing for China's retaliation in tariffs dispute

Companies were bracing Monday for how Beijing might retaliate against President Donald Trump's escalation of a fight over technology and trade that threatens to disrupt a Chinese economic recovery.

Regulators have threatened "necessary countermeasures" for Trump's tariff hikes Friday on USD 200 billion of Chinese imports. But three days later, in a break with previous tit-for-tat penalties that were imposed immediately, Beijing had yet to announce what it might do.

A foreign ministry spokesman said Monday that he had no details about Chinese plans or high-level contacts since negotiations ended Friday without a deal.

"We are determined and capable of safeguarding our legitimate rights and interests," said the spokesman, Geng Shuang.

"We hope the United States will meet China halfway to address each other's legitimate concerns."
"The U.S.-instigated trade war against China is just a hurdle in China's development process. It is no big deal."