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China Accuses U.S. of Trade ‘Abuses’ as India Hits Back at Trump

  • China ‘fully prepared’ to respond to new list of U.S. tariffs
  • Benchmark China stock index sinks again; dollar strengthens
Bloomberg business news
Bloomberg’s Stephen Engle reports on Xi’s response to those who think the nation’s opening up is "a joke."(Source: Bloomberg)
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Global trade tensions deepened Thursday with China reiterating it will hit back if the latest tariff threats from Donald Trump materialize, while India followed the European Union in slapping retaliatory levies on U.S. goods.

China is "fully prepared" to respond to any new list of U.S. tariffs, according to a commerce ministry spokesman, who said the nation will use a combination of quantitative and qualitative measures. Trump on Monday evening ordered up identification of $200 billion in Chinese imports for additional tariffs of 10 percent -- with another $200 billion after that if Beijing retaliates.