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Investing.com-- China has vowed to "fight to the end" if U.S. President Donald Trump moves ahead with his new threat of additional tariffs, escalating tensions in the ongoing trade dispute between the world's two largest economies.
The warning follows President Trump's recent threat to increase tariffs on Chinese imports by 50%, unless Beijing retracts its earlier 34% tariff hike on U.S. goods.
China's Ministry of Commerce stated that any further escalation by the U.S. would be met with resolute countermeasures aimed at protecting China’s national interests.
“If the U.S. insists on its own way, China will fight to the end,” a ministry spokesperson said in a statement.
Trump's new tariff threats were "a mistake on top of a mistake", the spokesperson added.
The escalating rhetoric has unsettled global markets, with investors concerned about the potential impact on international trade and economic stability. Analysts warn that a full-scale trade war could disrupt supply chains and dampen global growth prospects.