China's state media have praised some U.S. firms for "strong collaboration" - commentary that comes amid fears of a trade war and is reminiscent of how tensions with the U.S. were covered by Chinese newspapers during Donald Trump's first presidency.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

Trump announced plans to impose 10% tariffs on Chinese goods “above any additional tariffs,” after blaming the country for the inflow of illegal fentanyl into the U.S.