U.S. government debt yields hovered just below flatline on Wednesday after the Chinese government said it will counter the latest round of U.S. tariffs.
The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list, as well as fiber optical cables.
China is also going after coal, grease, Vaseline, asphalt and plastic products, and recyclables.
The yield on the benchmark 10-year Treasury note was a touch lower at around 2.966 percent at 1:06 p.m. ET, while the yield on the 30-year Treasury bond was just higher at 3.115 percent. Bond yields move inversely to prices.