Since U.S. President Donald Trump launched his latest trade war with China, Beijing had largely avoided hitting back at the U.S. with equal force. Not anymore.
China responded to Trump’s 34% “reciprocal” tariff last week by announcing it will slap an identical rate on all U.S. goods, along with more sanctions on American companies and curbs on exports of rare-earth minerals. And after Trump threatened to add an additional 50% duty if Beijing does not immediately withdraw its retaliation, China’s Ministry of Commerce on Tuesday said it is willing to fight “to the end.”
