China's Commerce Ministry said it would take countermeasures against the American tariff hike. It did not announce what its response would entail but said it 'deeply regrets' the turn of events.
to 25% on $200 billion of Chinese goods — which he made good on just after midnight ET on Friday.
She added that she expects added pressure on American firms operating in China, potentially including a slowdown in approvals for banks and checks on imports. Another option for Beijing's retaliation could include currency depreciation, analysts said. That is, a drop in value for the yuan would give Chinese exports a trade advantage and potentially offset the impact of U.S. tariffs.
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