China-U.S. Tariff Battle Is Escalating Quickly

A rundown of the news making headlines in and around China:

Tariff escalation: China vowed Tuesday to again retaliate if U.S. President Donald Trump goes through with his threat to impose an extra 50% tariff on Chinese imports, illustrating just how fast a trade war can escalate. The Ministry of Commerce promised countermeasures against what it called “bullying” by the United States. Trump’s tariff threat was in response to the additional 34% tariff that China imposed on all U.S. imports, which was a response to the 34% “reciprocal tariff” that the U.S. hit China with last week. Those tariffs came on top of two separate 10% additional levies that the U.S. imposed on Chinese imports since Trump took office in January.