(From AP News)
China vowed on Friday to fight the U.S. “at any cost” after President Donald Trump proposed slapping an additional $100 billion in tariffs on Chinese goods in an escalating trade dispute between the world’s two largest economies.
In Beijing, the Commerce Ministry said China doesn’t want a trade war — but isn’t afraid to fight one.
“China will dedicate itself to the end and at any cost and will definitely fight back firmly” if the U.S. persists in its “protectionism,” the ministry said in a statement.
Trump’s proposal intensified what was already shaping up to be the biggest trade battle since World War II. Global financial markets had fallen sharply as the world’s two biggest economies squared off over Beijing’s aggressive trade tactics. They calmed down Wednesday and Thursday on hopes the U.S. and China would find a diplomatic solution but slid Friday after Beijing said it would fight the Trump administration’s latest threats.