Hong Kong – China said on Tuesday that it “would fight until the end” if President Donald Trump imposes an additional 50% rate on Chinese products, because many countries rush to negotiate trade with the United States.
If the plan is fully implemented, the total prices on goods imported into the United States of China would be up to 104%. In response, the Chinese Ministry of Commerce said that China “firmly opposes” to Trump’s pricing threats, describing its previous “completely justified” countermeasures.
“If the United States insists in its own way, China will fight until the end,” the ministry said in a statement on Tuesday, adding that Trump’s threat to degenerate prices on China is a “error on a mistake”.
The Chinese Foreign Ministry did not immediately respond to a request for comments on Trump’s threat on Tuesday’s threat of an additional 50%tariff.
Trump threatened the new duty of 50% on China, as of Wednesday, if Beijing does not withdraw its 34% tariffs on all American products on Tuesday, that China imposed in retaliation of the samples from Chinese products announced by the Trump administration last week.
“In addition, all discussions with China concerning their meetings requested with us will be finished!” Trump wrote on Truth Social Monday. “Negotiations with other countries, which have also requested meetings, are starting to take place immediately.”
Beijing reprisal prices are expected to take effect on Thursday.
The Ministry of Commerce urged the United States to cancel all unilateral tariff measures against China and to resolve commercial disputes through dialogue.
“Pressure and threats are not the right way to face China,” he said. “China reiterates that there are no winners in a trade war and that protectionism does not lead anywhere.”
“China will resolutely take countermeasures to protect its own interests,” he added.
Actions in continental China and Hong Kong increased on Tuesday as Beijing rushes to stabilize its markets in the middle of panic on Trump’s prices, the funds supported by the Chinese state undertaking to buy local actions.
The Hang Seng index in Hong Kong has climbed approximately 1.58% at 12:10 p.m., local time (12:10 p.m. on Tuesday) after its greatest day decades in almost three decades after China’s pricing reprisals against the CSI Blue Chip 300 American China index, increased by 0.9% after a fall of 7% on Monday.
Trump said on Sunday that China could get a reduction in prices if it approves an agreement to sell US Tiktok operations. He confirmed that China and the United States had been “quite close” to the video sharing application agreement, but said that Beijing had been retained due to the additional 34% price that he announced on Chinese products last week.
“If I gave a small reduction in prices, they would approve this agreement in 15 minutes, which shows you the power of the prices,” he told journalists on Air Force One.
Tiktok Chinese owner Bytedance said on Saturday that he was still negotiating with the United States government and had not concluded any agreement.
