Thousands of multinational companies could be at risk of further trade restrictions, after China said it would be establishing a list of "unreliable" entities in response to Washington banning Huawei earlier this month.

The announcement was made a day before Beijing is due to increase tariffs on $60 billion in US goods, capping a week marked by rising Chinese threats of retaliation against the US.

China's Ministry of Commerce did not give details of the list, but said it would include companies which it sees as damaging the interests of Chinese firms by cutting off supply for non-commercial reasons. 

It claimed organisations and individuals that did not obey market rules and that violated contracts...