NBC News reports:
China shot back on Friday after President Donald Trump announced on Twitter that the U.S. would impose an additional 10 percent tariff on $300 billion in Chinese imports starting next month.
Chinese foreign ministry spokeswoman Hua Chunying called Trump’s move a “serious violation” and warned Beijing would have to take “necessary countermeasures” if the tariffs were imposed. “We don’t want to fight, but we are not afraid to fight,” Hua told a briefing on Friday.
“China will not accept any extreme pressure, intimidation and blackmail.” Immediately after Trump’s announcement, Wall Street pulled back on the news, with the Dow Jones Industrial Average falling from a 300-point gain to a decline of almost 200 points.