In a dramatic escalation of the ongoing trade war, China has pledged to "fight to the end" after U.S. President Donald Trump threatened to impose an additional 50% tariff on Chinese imports. This move follows China's decision to impose a 34% retaliatory tariff on U.S. goods, which Trump has labeled a "big mistake."
Key Developments:
- Trump's Ultimatum:
Trump warned that unless China withdraws its retaliatory tariffs by April 8, the U.S. will impose the new tariffs starting April 9, potentially raising the total tariff on Chinese goods to over 104%.
- China's Response:
Beijing has condemned Trump's actions as "blackmail" and "unilateral bullying," vowing to implement countermeasures to protect its interests.
- Global Market Impact:
The escalating tensions have caused significant volatility in global markets, with fears of a potential recession rising.
As the deadline approaches, international attention remains focused on whether China will back down or continue to resist U.S. demands, potentially leading to further escalation in the trade conflict.
