China readies to 'fight to the end' against Trump's tariff, Europe plans counterattack

As a worldwide trade war sparked by President Donald Trump's tariffs continues to affect markets, widen diplomatic divides, and jeopardize global economic stability, China has refused to back down.

China denounced what it called American "blackmail" after Trump promised to raise tariffs on Chinese imports to more than 100% on Wednesday. The aggressive tit-for-tat escalation that has dashed expectations for a negotiated truce was a response to Beijing's decision to match the "reciprocal" duties that Trump announced last week.

"The US side's threat to escalate tariffs against China is a mistake on top of a mistake," China's commerce ministry said in a scathing statement. "If the US insists on having its way, China will fight to the end." A new stage in the economic conflict between the two biggest economies in the world is marked by Beijing's uncompromising posture, which represents a dramatic departure from its previous demands for discussion.