Update: Beijing responded that it would retaliate with tariffs in equal scale to the $50BN of duties on Chinese goods unveiled by the Trump administration. “China will immediately introduce countermeasures of the same scale and strength,” an unnamed Chinese commerce ministry spokesperson announced on the ministry’s website. • CHINA SAYS DOESN'T WANT TRADE WAR, BUT WILL HAVE TO RETALIATE • CHINA TO IMMEDIATELY TAKE MEASURES OF SAME SCALE AGAINST U.S. • CHINA COMMERCE MINISTRY SAYS THE MEASURES HARM INTERESTS ON BOTH SIDES. Earlier in the day, Chinese Foreign Ministry spokesman Geng Shuang told a regular daily news ... (full story)