Days after Donald Trump's tariff warning, China vows to 'fight till end'
&imwidth=600&imheight=450&format=webp&quality=medium "Days after Donald Trump's tariff warning, China vows to 'fight till end'")
Chinese President Xi Jinping Photograph: (AFP)
China-US trade war: Donald Trump announced that the US would impose export controls "on any critical software" from November 1. He also said that the US would impose a 100% tariff on Chinese goods.
China on Tuesday responded to Donald Trump's threat of a 100 percent tariff with defiance, promising retaliation against the US. A senior official told the media that Beijing would fight to the end if any country foists a trade war, but is keeping its doors open for negotiations.
The second bout of the US-China trade duel was triggered last week by Beijing as it announced sweeping new export controls on rare earths. Beijing, which dominates the production of strategically important rare earths, has orderedcompanies to seek express approval of the government before selling the materials abroad.
China-US trade war
Rare earths are crucial for the production of electronics. They are also indispensablewhen it comes to designing and manufacturing defence equipment and batteries used in electric cars.
In response, Donald Trump announcedthat the US would impose export controls "on any critical software" from November 1.
He also said that the US would impose a 100% tariff on Chinese goods.
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An unnamed commerce ministry spokesperson said in a statement on Tuesday that China's position remained consistent on tariff wars.
"If you wish to fight, we shall fight to the end; if you wish to negotiate, our door remains open," the statement added.
The statement found fault with the threat of tariffs.
"The United States cannot simultaneously seek dialogue while threatening to impose new restrictive measures. This is not the proper way to engage with China," it added.
The remark came after Donald Trump appeared to scale back his threat to retaliate in a social media post on Sunday, saying the US wants to "help" China and that "it will all be fine".
Chinese goods currently face US tariffs of at least 30 percent under levies that Trump imposed while accusing Beijing of aiding in the fentanyl trade as well as unfair trade practices, reported AFP. China's retaliatory tariffs are currently at 10 percent.
The renewed trade tensions between China and the US have upended the global markets, including India.