China said Tuesday it was ready to “fight to the end” in a trade war with the United States after President Donald Trump said he would slap additional 100 percent tariffs on goods from the country.
The move, revealed in a Friday social media post, was in response to Beijing’s announcement last week of sweeping new export controls in the strategic field of rare earths — currently dominated by China.
Trump also announced in ... that Washington would impose export controls “on any and all critical software” from November 1.
The latest escalation has rattled markets and called into question a potential upcoming meeting with Chinese counterpart Xi Jinping in South Korea.
“On the matter of tariff wars and trade wars, China’s position remains consistent,” an unnamed commerce ministry spokesperson said in a statement Tuesday.
“If you wish to fight, we shall fight to the end; if you wish to negotiate, our door remains open,” the statement said.
“The United States cannot simultaneously seek dialogue while threatening to impose new restrictive measures. This is not the proper way to engage with China.”
Trump appeared to walk back his more menacing rhetoric in a Sunday social media post that said “it will all be fine”, adding that the United States wants to “help” China.
On Monday, as the outlook for trade with the United States darkened, newly released official data for September showed that China’s overseas shipments had remained resilient.