According to Hu Xijin, editor-in-chief of Chinese and English editions of the Global Times, Beijing is getting ready to announce retaliatory tariffs on certain US products.
“Based on what I know, China will take further countermeasures in response to US tariffs on $300 billion Chinese goods,” Hu Xijin tweeted out.
“Beijing will soon unveil a plan of imposing retaliatory tariffs on certain US products. China has ammunition to fight back. The US side will feel the pain.”
With the initial reaction, the 10-year US Treasury bond yield retreated slightly from its daily highs but was still up 1.78% on the day at the time of press.