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China’s Commerce Ministry was out with a statement in the last hour saying that China is fully prepared to defend its interest and has determination/capacity to do so.

Key quotes:  

   “¢   China opposes unilaterally imposed tariffs.
   “¢   Hopes that the US can resolve problems through dialogue instead of unilateral steps.
   “¢   There is no winner in a trade war.
   “¢   If the US implements tariffs, China will take necessary countermeasures.
   “¢   Trade delegation has already left Beijing and Vice Premier Liu’s visit shows China’s sincerity.