FX.co ★ China Rejects U.S. “Blackmail” Over Tariffs

Beijing has announced additional countermeasures in reaction to President Trump's increasing tariff threats, as tensions continue to rise between the world's two largest economies. On Tuesday, China's commerce ministry issued a statement warning that it would "firmly implement countermeasures to protect its rights and interests" should the U.S. impose further tariffs. The ministry criticized the U.S. for exacerbating the situation, stating, "The U.S. threat to increase tariffs on China is a serious misstep, revealing once again the coercive tactics of the U.S., and China will not stand for it." It added, "If the U.S. persists in its actions, China is prepared to respond fully." These comments came in the wake of President Trump's declaration of a new 50% tariff on Chinese goods, set to take effect on Wednesday unless Beijing retracts its counter tariffs. In reaction, China announced last week that it would apply a 34% duty on all U.S. imports starting Thursday, mirroring Washington's most recent tariff increase.