Trump issues new China tariff threat
The FT looks at the escalating tariff war between China and the US after Trump threatened an additional 50% tariffs on China if Beijing did not withdraw its retaliatory levies. China has said it will not back down. US stocks closed slightly lower after a day of volatile trading.
“If the US proceeds with implementing these escalated tariff measures, China will resolutely take countermeasures to safeguard its own rights and interests,” a commerce ministry spokesperson said. “If the US insists on going its own way, China will fight to the end.”