China has condemned the United States’ latest tariff threat, warning it will not yield to what it called economic intimidation. It's Commerce Ministry released a statement, stating that it would not be cowed by what it described as “tariff blackmail”. Chinese officials said the United States had imposed duties based on “unfounded reasons”, and they had no intention of backing down under pressure.
“The US threat to escalate tariffs against China is a mistake on top of a mistake, which once again exposes the US’s blackmailing nature. China will never accept this. If the US insists on going its own way, China will fight it to the end,” a spokesperson from the Chinese commerce ministry said on Tuesday.
The ministry urged Washington to cancel all unilateral tariff actions and settle disputes through dialogue. “China urges the United States to immediately rectify its wrong practices, cancel all unilateral tariff measures against China,” the ministry said. “If the U.S. side is bent on having its own way, [the] Chinese side will follow it to the end.”
“The countermeasures China has taken are aimed at safeguarding its sovereignty, security and development interests, and maintaining the normal international trade order. They are completely legitimate,” the ministry said. “The U.S. threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US. China will never accept this. If the US insists on its own way, China will fight to the end.”
These remarks came after U.S. President Donald Trump warned that Chinese imports could soon face an additional 50% tariff unless Beijing withdrew its latest round of retaliatory duties. The tone from Washington has only grown sharper. On Monday, President Trump doubled down, threatening to slap an extra 50% tariff on Chinese imports — on top of the 34% already announced just days earlier.
He gave Beijing a single day to roll back its reciprocal tariff decision on American goods. If it didn’t, he said, the new 50% tariff would take effect from April 9. Markets have already begun to feel the strain.
Trump stands firm on tariff strategy
President Trump escalated the dispute on Monday, declaring: “It’s the only chance our country will have to reset the table. Because no other president would be willing to do what I’m doing, or to even go through it. Now, I don’t mind going through it because I see a beautiful picture at the end.”
The proposed new tariff would come into effect on Wednesday if Beijing does not roll back its 34% counter-tariff on U.S. goods. Those duties were a direct response to the U.S.’s earlier 34% levy announced by Trump himself.
He insisted that these trade barriers are designed to bring back American industrial strength. “He’s doubling down on something that he knows works, and he’s going to continue to do that,” said White House economist Kevin Hassett. “But he is also going to listen to our trading partners, and if they come to us with really great deals that advantage American manufacturing and American farmers, I’m sure he’ll listen.”
Markets rattle as global trade war widens
Investors have reacted with concern. On Monday, the S&P 500 slid again, touching its lowest point in over a year. Stocks in China and Hong Kong plummeted, triggering intervention by Beijing’s sovereign wealth fund. Taiwan’s stock market saw its steepest one-day drop on record — nearly 10%.
Wall Street figures were blunt. JPMorgan Chase CEO Jamie Dimon warned of long-term consequences, and fund manager Bill Ackman cautioned the trade war could unleash an “economic nuclear winter.”
Even some of Trump’s own backers expressed doubt. Elon Musk, a vocal supporter of the administration’s cost-cutting push, suggested a complete removal of tariffs between the US and Europe. But trade adviser Peter Navarro dismissed Musk as just “a car assembler.”
Europe pushes back, but keeps door open
The European Union isn’t sitting still. Brussels has proposed 25% counter-tariffs on several American products — soybeans, nuts, sausages — while notably leaving items like bourbon whiskey off the list.
EU Trade Commissioner Maros Sefcovic said at a press conference, “Sooner or later, we will sit at the negotiation table with the U.S. and find a mutually acceptable compromise.”
Yet Europe, too, is feeling the pressure. It already faces US tariffs on cars and metals, and new 20% duties are expected as early as Wednesday. Trump has also threatened to slap tariffs on EU alcoholic drinks, fuelling concerns among exporters of French cognac, Italian wine, and German cars. Volkswagen's Audi, for instance, has reportedly held back cars at U.S. ports since April 2.
In Asia, reactions have varied. Taiwan’s President Lai Ching-te offered a “zero tariffs” approach to begin talks. In India, a senior government official indicated Delhi would not retaliate.
Back in the US, Treasury Secretary Scott Bessent reportedly urged Trump during a meeting in Florida to focus on finalising trade deals, hoping to ease investor anxiety. With fears of recession growing, markets are betting the Federal Reserve may be forced to cut interest rates. Trump repeated his call for such a move on Monday. However, Fed Chair Jerome Powell has shown no urgency to act.
For now, the situation remains volatile. Tariff threats are flying, markets are shaking, and major powers are digging in — each determined not to blink first.
“The US threat to escalate tariffs against China is a mistake on top of a mistake, which once again exposes the US’s blackmailing nature. China will never accept this. If the US insists on going its own way, China will fight it to the end,” a spokesperson from the Chinese commerce ministry said on Tuesday.
The ministry urged Washington to cancel all unilateral tariff actions and settle disputes through dialogue. “China urges the United States to immediately rectify its wrong practices, cancel all unilateral tariff measures against China,” the ministry said. “If the U.S. side is bent on having its own way, [the] Chinese side will follow it to the end.”
“The countermeasures China has taken are aimed at safeguarding its sovereignty, security and development interests, and maintaining the normal international trade order. They are completely legitimate,” the ministry said. “The U.S. threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US. China will never accept this. If the US insists on its own way, China will fight to the end.”
These remarks came after U.S. President Donald Trump warned that Chinese imports could soon face an additional 50% tariff unless Beijing withdrew its latest round of retaliatory duties. The tone from Washington has only grown sharper. On Monday, President Trump doubled down, threatening to slap an extra 50% tariff on Chinese imports — on top of the 34% already announced just days earlier.
He gave Beijing a single day to roll back its reciprocal tariff decision on American goods. If it didn’t, he said, the new 50% tariff would take effect from April 9. Markets have already begun to feel the strain.
Trump stands firm on tariff strategy
President Trump escalated the dispute on Monday, declaring: “It’s the only chance our country will have to reset the table. Because no other president would be willing to do what I’m doing, or to even go through it. Now, I don’t mind going through it because I see a beautiful picture at the end.”
The proposed new tariff would come into effect on Wednesday if Beijing does not roll back its 34% counter-tariff on U.S. goods. Those duties were a direct response to the U.S.’s earlier 34% levy announced by Trump himself.
He insisted that these trade barriers are designed to bring back American industrial strength. “He’s doubling down on something that he knows works, and he’s going to continue to do that,” said White House economist Kevin Hassett. “But he is also going to listen to our trading partners, and if they come to us with really great deals that advantage American manufacturing and American farmers, I’m sure he’ll listen.”
Markets rattle as global trade war widens
Investors have reacted with concern. On Monday, the S&P 500 slid again, touching its lowest point in over a year. Stocks in China and Hong Kong plummeted, triggering intervention by Beijing’s sovereign wealth fund. Taiwan’s stock market saw its steepest one-day drop on record — nearly 10%.
Wall Street figures were blunt. JPMorgan Chase CEO Jamie Dimon warned of long-term consequences, and fund manager Bill Ackman cautioned the trade war could unleash an “economic nuclear winter.”
Even some of Trump’s own backers expressed doubt. Elon Musk, a vocal supporter of the administration’s cost-cutting push, suggested a complete removal of tariffs between the US and Europe. But trade adviser Peter Navarro dismissed Musk as just “a car assembler.”
Europe pushes back, but keeps door open
The European Union isn’t sitting still. Brussels has proposed 25% counter-tariffs on several American products — soybeans, nuts, sausages — while notably leaving items like bourbon whiskey off the list.
EU Trade Commissioner Maros Sefcovic said at a press conference, “Sooner or later, we will sit at the negotiation table with the U.S. and find a mutually acceptable compromise.”
Yet Europe, too, is feeling the pressure. It already faces US tariffs on cars and metals, and new 20% duties are expected as early as Wednesday. Trump has also threatened to slap tariffs on EU alcoholic drinks, fuelling concerns among exporters of French cognac, Italian wine, and German cars. Volkswagen's Audi, for instance, has reportedly held back cars at U.S. ports since April 2.
In Asia, reactions have varied. Taiwan’s President Lai Ching-te offered a “zero tariffs” approach to begin talks. In India, a senior government official indicated Delhi would not retaliate.
Back in the US, Treasury Secretary Scott Bessent reportedly urged Trump during a meeting in Florida to focus on finalising trade deals, hoping to ease investor anxiety. With fears of recession growing, markets are betting the Federal Reserve may be forced to cut interest rates. Trump repeated his call for such a move on Monday. However, Fed Chair Jerome Powell has shown no urgency to act.
For now, the situation remains volatile. Tariff threats are flying, markets are shaking, and major powers are digging in — each determined not to blink first.
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