The Chinese Ministry of Commerce said the controls, issued Oct. 9, were part of Beijing's effort to "better safeguard world peace and regional stability."

China accused the United States of "double standards" on Sunday, after President Donald Trump threatened an additional 100 percent tariff on the world's second-largest economy.On Sunday, China's Ministry of Commerce called Trump's tariff threat a "typical example of 'double standards'".

This was almost the perfect storm coming together,” he warned. Meanwhile, White House budget office said Friday that mass firings of federal workers have started and could to

China will start charging U.S. ships docking at its ports in a direct response to the Trump administration imposing the same fee on Chinese vessels entering U.S. shores.

Beijing is stacking up its bargaining chips ahead of expected U.S.-China talks when Presidents Donald Trump and Xi Jinping visit South Korea's Gyeongju, announcing new export controls to tighten its grip over high-tech manufacturing supply chains.

"This is now the second instance where markets are trading tariffs as backfiring on the US, not on the rest of the world."