The Chinese Commerce Ministry said Tuesday that it would be forced to retaliate against what it called “ totally unacceptable” U.S. tariffs. There have been no confirmed high-level talks between the two sides since an early June visit to Beijing by U.S. Commerce Secretary Wilbur Ross that achieved no breakthroughs.

Beijing “never yields to threat or blackmail” and will retaliate against the “groundless” tariffs, China's Vice Minister of Commerce Wang Shouwen said in written comments to Bloomberg. “The U.S. side ignored the progress, adopted unilateral and protectionist measures, and started the trade war.”

What Bloomberg Economists Say...

“As the targeted imports broaden to include more consumer products, a hit to household wallets and a bump to inflation could start to shift the political calculus in the U.S.” —Fielding Chen, Bloomberg's China economist

China Looks Prepared for Drawn-out Conflict

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