China's foreign ministry: Will take countermeasures in trade against US

China's foreign ministry is out with a statement in response to the Trump administrations latest threat to levy tariffs on an extra $200 billion worth of Chinese imports and reiterated that it will take countermeasures in trade against the US. 

Key quotes:

   •  China's position is very clear, doesn't want to fight a trade war but will if it has to.
   •  China will protect its legitimate rights.
   •  China stands on the right side of history to protect multilateralism.
   •  Trade war hurts the interest of the global supply chain.