Asian markets rally as China vows to ‘fight to the end’ over Trump’s new tariff threat

China has threatened to “resolutely take countermeasures” in response to Donald Trump’s threat of an additional 50% tariff on Chinese imports. In a statement the Commerce Ministry said the US’s imposition of “so-called ‘reciprocal tariffs'” on China is “completely groundless and is a typical unilateral bullying practice”. It hinted more retaliatory tariffs may come in the future. “The countermeasures China has taken are aimed at safeguarding its sovereignty, security and development interests, and maintaining the normal international trade order. They are completely legitimate,” the ministry said. “The US threat to escalate tariffs on China is a mistake on top of…