China will not be content to only play defence in an escalating trade war with the United States, a widely read Chinese tabloid warned, as U.S. President Donald Trump was expected to announce new tariffs on $200 billion (£152 billion) in Chinese goods as early as Monday. The United States and China have already levied duties on $50 billion worth of each other's goods in an intensifying row that has jolted global financial markets in the past few months. Last week, the U.S. Treasury Department invited senior Chinese officials, including Vice Premier Liu He, to more talks on the tariff dispute, though scepticism remained high among trade observers on both sides over the prospects of a breakthrough.
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