China says that wrong actions from the US has escalated trade frictions greatly

Comments by China’s commerce ministry

  • Says that US actions have increased chances of a global economic recession
  • Urges US to stop abusing domestic laws to sanction Chinese firms
  • Says that China will adopt necessary measures to safeguard its firms’ interests
Fighting words like these won’t really help ease the risk mood we’re seeing so far today. US equity futures have slipped to fresh lows, down by 0.7% now as risk-off sentiment starts to gain further momentum on the session.