China’s first major response to President Donald Trump’s tariffs wasn’t like the U.S.’s approach, which tackled all Chinese imports. Instead, Beijing singled out a handful of big areas — and major companies — to pile on the pressure.

China said on Tuesday it had launched an anti-monopoly investigation into Alphabet's Google and added two U.S. firms to its "unreliable entity list," minutes after additional U.S. tariffs on Chinese goods came into effect.

Oil extended declines after China imposed levies on some US commodities, with West Texas Intermediate falling to around $72 per barrel and the global benchmark Brent hovering near $75. The yuan traded offshore extended losses with regional peers, while gold was little changed