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China raises counter-tariffs on U.S. to 84% as Trumps trade war escalates – National [Video]

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Canadian Economy and Markets

China again vowed to “fight to the end” Wednesday in an escalating trade war with the U.S. as it announced it would raise tariffs on American goods to 84 per cent from Thursday.

Beijing also added an array of countermeasures after U.S. President Donald Trump raised the total tariff on imports from China to 104 per cent.

“If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce wrote in a statement introducing its white paper on trade with the U.S.

The government declined to say whether it would negotiate with the White House, as many other countries have started doing.

On Friday, China announced a 34 per cent tariff on all goods imported from the U.S., export controls on rare earth minerals, and a slew of other measures in response to …

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