China Says Will Not Back Down To US' 'Blackmail', Promises To 'Fight To The End'

Beijing’s warning followed Trump’s announcement of an additional 50 per cent tariff on goods from the world’s second-largest economy.

The move was a direct counter to China’s decision to match the earlier 34 per cent reciprocal tariffs introduced by the US last week.

Source : ABPLIVE AI

China issued a sharp response to escalating US trade measures, accusing Washington of resorting to "blackmail" amid signs of easing turbulence in global markets. The reaction came as President Donald Trump doubled down on his tariff strategy, pledging to impose a new round of duties on Chinese imports starting Wednesday.

Beijing’s warning followed Trump’s announcement of an additional 50 per cent tariff on goods from the world’s second-largest economy. The move was a direct counter to China’s decision to match the earlier 34 per cent reciprocal tariffs introduced by the US last week.

"The US side's threat to escalate tariffs against China is a mistake on top of a mistake, once again exposing the American side's blackmailing nature. If the US insists on having its way, China will fight to the end," said China’s commerce ministry, reported Reuters.

Stock Market Jitters Fade, But Concerns Persist

After days of heavy losses, global stock markets showed signs of stabilisation. Japan’s Nikkei Index jumped 6 per cent on Tuesday, recovering from a 1.5-year low, following a phone conversation between Trump and Japanese Prime Minister Shigeru Ishiba that led to an agreement to start trade talks. Chinese blue-chip stocks gained 0.7 per cent, partially reversing Monday’s 7 per cent decline. Meanwhile, Hong Kong’s Hang Seng Index bounced back 2 per cent after enduring its worst session on Monday since 1997.

The US stock futures also pointed to a modest recovery after hitting their lowest levels in more than a year, the report noted. 

Trump defended his tariff plan, which includes minimum duties of 10 per cent and targeted rates as high as 50 per cent, and said, “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.”