China Warns US Of Tariff Retaliation

China on Wednesday strongly condemned a US list of US$50 billion in Chinese imports set to be hit by tariffs and warned it was ready to retaliate, state media said.

The warning was issued by the commerce ministry, as the countries engage in a simmering trade confrontation.

The US$50 billion list is the latest move in US President Donald Trump's simmering trade row with Beijing. It includes industrial chemicals, medicines and metals, and is intended as a response to China's alleged theft of the intellectual property of American companies.

But US officials say it's not yet finalised.

The move comes a day after Beijing imposed duties on about US$3 billion of US exports and its ambassador to Washington warned of more counter-measures of the same scale if the US imposed further tariffs on Chinese goods. (AFP)