China Vows 'Fight to the End' on Tariffs as it Boosts Markets

Rebuke came after Trump threatened to ratchet up tariffs on US imports from No. 2 economy

- Bloomberg

China pledged to retaliate against Donald Trump's latest tariff threat and mobilized state organs to send a message of resilience, raising the risk of a prolonged trade war between the world's two largest economies.

"The US threat to escalate tariffs on China is a mistake on top of a mistake," the Chinese Ministry of Commerce said in a Tuesday statement, hours after the US president vowed to impose additional import taxes. "If the US insists on its own way, China will fight to the end."

The Chinese response came after Trump threatened a further 50% tariff on all Chinese goods unless Beijing withdraws its tit-for-tat retaliation against his earlier "reciprocal" levies. That takes the cumulative tariff rate announced this year to 104%—effectively doubling the import price of any goods shipped from China to the US.