Stock markets in China and Europe have been hit after US President Donald Trump threatened new tariffs on China, putting a trade deal in doubt.
The plan comes ahead of high-level trade talks between the U.S. and China to try to resolve differences.
President Donald Trump plans to announce new tariffs of about $ 200 billion on Chinese imports as early as Monday.
China blames U.S. for 'largest-scale trade war'
China hit back quickly on Wednesday against the Trump administration’s plans to slap tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, beef and chemicals.
China has imposed tariffs of up to 25% on 128 US imports, including pork and wine, after US President Donald Trump raised duties on foreign steel and aluminium imports in March.