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.

BEIJING (Reuters) -China's state media warned U.S. President-elect Donald Trump his pledge to slap additional tariffs on Chinese goods over fentanyl flows could drag the world's top two economies into a mutually destructive tariff war.

Hello, this is Colum Murphy in Beijing, where Donald Trump’s penchant for doing the surprising … well … surprised everyone again this week.

Tariffs look set to be at the heart of Trump’s economic policy and the billionaire made it clear he wants his economic team to hit the ground running in January.

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

Chinese state media has cautioned that President-elect Donald Trump’s pledge to impose additional tariffs on Chinese goods risks igniting a devastating tariff war between the world’s two largest economies.

U.S. President Joe Biden on Thursday said he hoped Trump would rethink his plan to impose tariffs on Mexico and Canada, saying it could “screw up” relationships with close allies.

The yuan fell against the U.S. dollar to its weakest in nearly four months after U.S. President-elect Donald Trump said he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China.

Trump on Monday threatened an additional tariff of 10 percent unless China halts the flow of Fentanyl precursors.