Beijing 'to hold high-level meeting in response to US tariffs'

China's top planners planned to convene a meeting as early as yesterday to discuss measures to boost the economy and stabilise the capital markets, people with knowledge of the matter said, amid an escalating trade war with US.

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The move comes as US duties on Chinese imports nearly doubled to 104% yesterday and is the first such publicly known high-level gathering since US President Donald Trump announced "reciprocal" tariffs on China last week.

Senior officials from the State Council, several government and regulatory bodies were expected to attend the meeting, said the two sources, declining to be named as they were not authorised to speak to the media.

The policymakers were expected to discuss measures to boost domestic consumption and support capital markets, said the sources. One of them added that initiatives such as export tax rebates were also likely to be discussed.