Beijing retaliated by slapping duties on approximately $60 billion of U. S. goods after the Washington imposed tariffs on about $200 billion of Chinese imports.
Asia markets are set for a higher open after Wall Street appeared to shrug off an escalation in the U. S.-China trade war and ended the trading day higher.
The Nikkei futures contract in Chicago was at 23,705, and at 23,640 in Osaka. The Nikkei 225 last closed at 23,420.54.
In Australia, the SPI futures contract was at 6,195 compared to the last close of the ASX 200 at 6,161.5.
In the U. S. markets on Tuesday, the Dow Jones Industrial Average soared by 184.84 points to close at 26,246.96, while the S&P 500 rose by 0.5 percent at 2,904.31 and the Nasdaq Composite gained by 0.8 percent to 7,956.11.
The positive moves on Wall Street came despite a further escalation in the ongoing trade war between Washington and Beijing, with China announcing that it was placing tariffs on approximately $60 billion worth of goods from the U. S. Some products which had previously been designated a 20 percent tariff, however, were revised down to 10 percent.
