China says it must 'counterattack' for US tariff hike

China's says it is "forced to make a necessary counterattack" to a U.S. tariff hike on billions of dollars of Chinese goods but gave no immediate details of possible retaliation.

The Commerce Ministry on Friday criticized Washington for "trade bullying" following the tariff hike that took effect at noon Beijing time in a spiraling dispute over technology policy that companies worry could chill global economic growth.

A ministry statement said, "the Chinese side promised not to fire the first shot, but to defend the core interests of the country and people, it is forced to make a necessary counterattack."

Beijing earlier released a list of American goods targeted for possible tariff hikes including soybeans, electric cars and whiskey.