- Tag results for Trade war
That would mean no easing of tensions between the world's top two economies for many years after President Donald Trump has left office, even if he serves a second term, the CNN reported.
In a combative series of tweets, Trump, whose Republicans fear losing control of Congress in November, accused China of targeting retaliatory trade measures for political effect.
The increases are in response to the announcing it will impose tariffs on $200 billion worth of Chinese-made goods starting next week.
The domestic currency after remaining range-bound was quoting lower by 27 paise at 72.78 (intra-day) against the US dollar in late afternoon trade.
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.15 per cent in early trade but Japan's Nikkei bucked the trend to gain 0.4 per cent.
"We are looking forward to a more beautiful counter-attack and will keep increasing the pain felt by the U.S.," the Chinese-language column in The Global Times said.
The growing trade conflict between the world's two largest economies has long unnerved investors who fear an escalation could eventually whack global growth .
The Washington Post and Wall Street Journal said US President Trump had decided to impose 10 percent levies on USD 200 billion of Chinese imports and could make an announcement in the coming days.
The fresh tariffs are aimed at putting pressure on Beijing ahead of tough negotiations on its demand for technology transfer from US companies.
Beijing has pledged to hit back with five to 25 per cent tariffs on $60 billion in US imports in retaliation for any measures from the US.
China considers that "no substantive effort and progress has been made" by the US to fulfill its implementation obligation.
A combination of global and domestic factors have affected investor sentiment, with the benchmark indices registering around 500 points decline in the last two days.
Chinese factories making everything from bikes to tyres, plastics and textiles are moving assembly lines abroad to skirt higher customs taxes on their exports to the United States and elsewhere.
The company's US-made hardware products have taken it to become a USD 1 trillion company but those products are built in China which, in turn, creates thousands of jobs.
The President said that the US should get paid for securing the wealthy countries from the outside harm.