Chinese tariffs have already impacted US exports such as soybeans.
The spiraling conflict over U.S. complaints about Chinese technology policy has prompted warnings it might chill global economic growth.
But it could interfere with American automakers and retailers who see China as a key market by regulating import licenses or investigating USA firms for tax, environmental, and antitrust concerns, according to the Associated Press.
The trade war between the world's two largest economies continues to heat up with the United States drafting tariffs on another $200 billion in Chinese imports.
China' s Ministry of Commerce said that the tariffs are "totally unacceptable" and it is hurting the entire world, as well as China.
Wilfully provoking a trade war will harm the interests of all parties on the global industrial chain and will produce no winners, stated a Chinese Foreign Ministry spokesperson at a press briefing in Beijing on Wednesday.
US President Trump subsequently threatened to apply a 10% tariff on another $US200 billion worth of Chinese products. While this initial move focused more on Chinese industrial products, the follow-up promises to instead affect ordinary consumers.
Members of Congress are increasingly questioning Trump's aggressive trade policies, warning that tariffs on imports raise prices for consumers and expose US farmers and manufacturers to retaliation overseas.
Farmer Terry Davidson walks through his soy fields July 6, 2018, in Harvard, Illinois, the same day China imposed retaliatory tariffs aimed at the United States soybean market. Each side is mulling tariffs on a further $16 billion in goods that would bring the totals to $50 billion. Beijing has vowed to retaliate dollar-for-dollar. However, Beijing has other ways to disrupt American companies' operations.
Regulators can deny or cancel licenses or tie up companies by launching tax, environmental or anti-monopoly investigations. All other major governments have approved the deal.
China imports far less from the U.S. than America does from China.
Almost 69 percent of the 434 respondents to the annual China Business Climate Survey of the American Chamber of Commerce in Shanghai opposed tariffs, while 8.5 percent backed them.
Senate Finance Committee Chairman Orrin Hatch said the announcement "appears reckless and is not a targeted approach".
Chinese leaders have tried without success to recruit support from Europe and other governments.
Trump's latest move took the wind out of investors' sails largely because the central scenario for many in the markets is that Washington will eventually step back from the escalating row and settle for some sort of compromise.
While Chinese shares regained some heavy losses of July 11, with the Shanghai Composite index rising 2.2 percent, the yuan fell against the dollar following the central bank's weakest daily fixing in almost a year and Washington's fresh tariff threats. Hong Kong's Hang Seng gained 0.7 percent to 28,517.61 and Seoul's Kospi added 0.2 percent to 2,285.06.
The conflict is "far from over", warned Hannah Anderson of JP Morgan Asset Management in a report, "and the impact will be global".