Beijing — China could hit back at US firms listed on the Dow Jones industrial average if US President Donald Trump keeps exacerbating tensions with China over trade, state-controlled Chinese tabloid The Global Times said on Thursday. Trump threatened on Monday to hit $200bn of Chinese imports with 10% tariffs if China follows through with retaliation against his previous targeting of $50bn in imports. The Dow, which counts Boeing, Apple and Nike among its constituents, ended down 0.17% on Wednesday. The 30-stock share index has declined 0.25% year-to-date. "If Trump continues to escalate trade tensions with China, we cannot rule out the possibility that China will strike back by adopting a hard-line approach targeting Dow Jones index giants," the Global Times said in a commentary. The world’s two biggest economies seemed increasingly headed towards open trade conflict. Three rounds of high-level talks since early May have failed to reach a compromise on US complaints about Chinese t...
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