China says won’t bow to tariff pressure day after Trump threatens more coercive levies

Trump threatened China with further tariffs on Monday, prompting new fears that his efforts to rebalance the global economy will exacerbate a financially damaging trade war read more In response to President Donald Trump's warning of an extra 50% tax on Chinese goods, China pledged to take actions against the US "to safeguard its own rights and interests" on Tuesday. According to a Commerce Ministry statement, the United States' imposition of "so-called 'reciprocal tariffs'" on China is "completely groundless and a typical unilateral bullying practice." China has imposed retaliatory duties, and the government warned that more may follow. "The countermeasures…