China plans countermeasures against US tariffs - WSJ

According to the WSJ report, citing people familiar with the matter, China is said to plan countermeasures against the US President Donald Trump's proposed tariffs. 

China is likely to target US agricultural exports of soybeans, sorghum and live hogs, but the plan could change based on what the Trump administration proposes.

The headlines sparked concerns of a full-blown US-China trade war and prompted some safe-haven buying, with the USD/JPY pair falling the 106.00 neighborhood in a knee-jerk reaction to the news report.