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By Heraldviews

The United States and China exchanged fresh tariff threats on Tuesday, further intensifying their trade conflict and sending ripples through global markets. The confrontation has prompted other nations to seek strategies to mitigate economic fallout from the dispute between the world's two largest economies.

US President Donald Trump announced plans to impose an additional 50 percent tariff on Chinese imports, a move framed as retaliation against Beijing's response to earlier US duties. The escalation follows Washington's imposition of 34 percent tariffs on April 2, which China has condemned as unjustified economic coercion.

China's Commerce Ministry issued a strongly worded statement broadcast on state television, declaring: "The US threat to escalate tariffs is a mistake on top of a mistake. China will never accept this and will take necessary countermeasures to firmly defend its legitimate rights and interests." The statement characterized the US actions as demonstrating a "blackmailing nature."

Chinese Foreign Ministry spokesperson Lin Jian dismissed prospects for immediate negotiations, stating that Washington's approach failed to demonstrate sincerity. "If the US truly wants dialogue, it should adopt an attitude of equality, mutual respect and mutual benefit," Lin told reporters during a regular briefing.

The renewed tensions triggered volatility in financial markets, with Chinese authorities directing state-owned enterprises to support domestic stocks following a sharp market decline on Monday. While global markets showed tentative signs of stabilization after two turbulent trading sessions, governments across Asia moved to contain potential damage to their economies.

In Japan, Prime Minister Shigeru Ishiba convened an emergency task force after speaking with President Trump late Monday. Tokyo is grappling with 24 percent US tariffs affecting its automotive and steel exports. Economic Revitalization Minister Ryosei Akazawa was appointed lead negotiator and dispatched to Washington for follow-up discussions.

Indian Foreign Minister S. Jaishankar held talks with US counterpart Marco Rubio, pushing for accelerated negotiations on a bilateral trade agreement. New Delhi seeks relief from 26 percent US tariffs on Indian exports while resisting American demands for greater access to its agricultural sector, a sensitive issue given the sector's employment of nearly half India's workforce.

The escalating trade war has already erased trillions in global market value, with analysts warning of prolonged economic uncertainty if neither power shows willingness to de-escalate. The conflict pits US accusations of unfair Chinese trade practices against Beijing's charges of American economic bullying, leaving other nations caught in the crossfire of the world's most consequential economic confrontation.