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Chinese autonomous-driving company Pony.ai struck a partnership with Toyota Motor Corp., a boon for the startup seeking to take on U.S. rivals such as Alphabet Inc.’s Waymo.

China announced plans to impose additional tariffs on $75 billion of American goods including soybeans, automobiles and oil — retaliation for President Donald Trump’s latest planned levies on Chinese imports that sent U.S. stock futures tumbling.

President Donald Trump said the United States is “doing very well with China, and talking!” but suggested he wasn’t ready to sign a trade deal, hours after his top economic adviser laid out a potential timeline for the resumption of substantive discussions with Beijing.

China is stepping up its soybean buying in Brazil as growers in Argentina continue to hoard and the Asian nation avoids American oilseed after an escalation in trade tensions between Washington and Beijing.

China called planned U.S. tariffs on an additional $300 billion in Chinese goods a violation of accords reached by Presidents Donald Trump and Xi Jinping, signaling an American move earlier this week to delay some of those levies was not enough to stave off retaliation.

China responded to President Donald Trump’s tariff threat with another escalation of the trade war Aug. 5, asking state-owned companies to suspend imports of U.S. agricultural products.

U.S. and Chinese trade negotiators plan to meet again in early September, as the latest round of negotiations ended with few signs of concrete progress.

The Federal Reserve reduced interest rates for the first time since the financial crisis in a move that Chairman Jerome Powell said was designed to “ensure against downside risks” rather than signaling the start of a lengthy cycle of monetary policy easing.

With or without retaliatory tariffs, Chinese companies probably will show little interest in buying U.S. corn because the jump in Chicago benchmark futures since May has wiped out the price advantage over domestic supplies, according to Yigu Info Consulting Ltd.

A trade association representing wholesale distributors is pressuring lawmakers not to approve increased government spending on a highly lucrative e-commerce contract the group says favors Amazon.com.