China says it will fight to end' after US said it was trying to hurt world economy

"China has hit back at accusations from the US that it is trying to hurt the world economy, as the trade war between the world's two biggest economies appeared to re-escalate, amped up by aggressive rhetoric on both sides. China's commerce ministry said on Tuesday that the US was threatening to intimidate with the prospect of new tariffs on Chinese exports, which is not the right way to get along with China. Its spokesperson said that China would fight to the end in trade talks."

"The comments came shortly after the US treasury secretary, Scott Bessent, said China wanted to to pull everybody else down with them by damaging the world economy. Why has US-China trade war restarted and how have markets reacted? It follows the US and China starting to charge each other increased port fees on cargo ships, increasing trade tensions. The US announced plans earlier this year to begin charging duties on China-linked ships to counter what it says are unfair maritime trade practices."

"State media said that Chinese-built ships would be exempt from the new measures. The commerce ministry said on Monday that it had notified the US about the rare earth export controls Beijing announced last week in advance, contradicting comments made by the US trade representative, Jamieson Greer, over the weekend that the US had not been warned. Last week China increased its restrictions on rare earths and related technologies, citing national security concerns."

China rebuked US accusations that it sought to damage the world economy and vowed to fight to the end in trade talks. US treasury secretary accused China of trying to pull others down by damaging the global economy. Both countries began charging increased port fees on each other's cargo ships, with the US earlier announcing duties on China-linked vessels to counter alleged unfair maritime practices. China said it had notified the US in advance about new rare earth export controls, which it framed as national security measures. Washington announced plans for 100% tariffs on Chinese exports from 1 November, prompting Chinese threats of retaliation. Tariffs were largely paused until 10 November.

Read at www.theguardian.com