Tensions between the US and China have escalated as President Donald Trump threatened Beijing with additional tariffs. China has vowed to “fight to the end” and accused the White House of “blackmail” in response to the potential tariffs.
The US has demanded that China withdraw its retaliatory tariffs or face an additional 50% levy, while China has pledged to impose 34% tariffs on all US imports. Economists warn that the situation could spark a global recession, with a 60% chance of the US slipping into recession this year.