Beijing and Washington are already on track to raise blanket tariffs on each other this week. Trump on Monday added a new threat to put an additional 50% levy on Chinese imports.
China slammed the US for threatening to raise tariffs and pledged to retaliate if Washington follows through, raising the stakes of the 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, which once again exposes the blackmail nature of the US,” the Chinese Ministry of Commerce said in a Tuesday statement. “If the US insists on its own way, China will fight to the end.”
