China promises to ‘fight till the end’ Trump’s tariffs
(MENAFN) China has strongly warned the US against escalating the trade conflict, following President Donald Trump's announcement of new tariffs on Chinese imports. In response to Trump's imposition of a 34% tariff on Chinese goods, Beijing pledged to retaliate with an equal tariff increase on US exports, fueling further tensions.
The Chinese Ministry of Commerce condemned the growing trade war, calling it "economic bullying" and vowed to take firm action to protect China's interests. A spokesperson for the ministry stated, “China will fight till the end if the US side is bent on going down the wrong path.”
Trump defended the tariffs as necessary to reduce the US trade deficit, claiming that the measures would make foreign goods less appealing to American consumers and encourage international partners to open their markets to US exports. He also warned that countries retaliating against the tariffs would face even higher duties.
The escalating trade war has already shaken global financial markets, wiping out over $10 trillion in global equities, and pushing Bitcoin below $75,000. Many top altcoins also experienced sharp declines, while JPMorgan raised the odds of a US and global recession to 60%. Despite the market turmoil, Trump remained optimistic, asserting that his policies would ultimately lead to greater wealth and job creation in the US.
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