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US warns of more tariffs, China says 'not afraid, will fight trade war

The trade war between the world's two largest economies escalated on Monday with China slapping tariffs on USD 60 billion worth of US imports in a retaliation to Trump's move to raise tariffs on USD 200 billion worth of Chinese goods

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Donald Trump

Donald Trump

Beijing: As Donald Trump threatened to slap tariffs on the remaining Chinese imports unless Beijing agrees for a trade deal, a livid China on Tuesday warned the US president not to "misjudge" its determination to fight the trade war till the end.

The trade war between the world's two largest economies escalated on Monday with China slapping tariffs on USD 60 billion worth of US imports in a retaliation to Trump's move to raise tariffs on USD 200 billion worth of Chinese goods. Undaunted by the Chinese retaliation, Trump has threatened to clamp tariffs on the remaining Chinese imports which last year amounted to over USD 539 billion against US exports of USD 120 billion to China. After the near collapse of trade talks with China last week, Trump on Friday imposed punitive duties on USD 200 billion worth of Chinese imports, raising them to 25 per cent from 10 per cent. "It went up, as of Friday, very substantially. It's 25 per cent on USD 200 billion. So now, the total is 25 per cent on USD 250 billion.

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