Trade war or game of chicken? How did Trump's tariffs lead to China's "blackmail" accusations?

Tensions between the world’s two largest economies have increased overnight as Beijing vowed to “fight to the end”, in response to a new wave of US tariffs. The statement followed a dramatic escalation by President Donald Trump, who threatened an additional 50 per cent tariff on Chinese goods, unless Beijing reverses its newly announced 34 per cent reciprocal levy – retaliation for Trump’s earlier 34 per cent tariff hike on Chinese imports. The new US tariffs are set to take effect Wednesday. China’s commerce ministry accused the US of “blackmail”, dubbing the move “a mistake on top of a mistake”, and said it would take ‘resolute countermeasures’ if Washington doesn’t back down. Click the link in our bio to read more of the story 🔗 #tariffs #china #donaldtrump #trump #tradewar #trade #chinanews #usa #usnews #news #politics #politicalnews #economy #economics #market #markets #marketnews #marketupdate #markettrends #news #worldnews #worldnewstoday #worldeconomy #worldeconomynews #liberationday