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China appears to be unmoved by the tariffs imposed by US President Donald Trump and threats that if the tariffs are not implemented, they will go up to 50%.
China's Commerce Ministry has said it will never accept the US's "blackmailing nature" and vowed to fight against tariffs to the end.
Several Chinese state-owned firms have pledged to support financial markets as trade tensions with the U.S. escalate. China's financial regulator also plans to increase the percentage of insurance funds investing in the stock market.
Trump initially imposed a new 10% tariff on all goods coming from China in February, but Beijing immediately responded with a series of countermeasures, including duties on American coal, liquefied natural gas and agricultural machinery.
In March, President Trump doubled tariffs on Chinese goods to 20%, with China retaliating with more tariffs of up to 15% on key American agricultural products and tightening controls on American firms operating in the country.
Last week, the US president unveiled plans to raise import tariffs on Chinese goods to 54%, although some items, such as pharmaceuticals and computer chips, were exempted.
Again, Beijing responded with new measures, including additional export controls on rare earth minerals and suspended imports of more agricultural goods from some American firms.
Four Chinese state-owned firms have said they will help support financial markets as trade tensions with the US escalate.
Central Huijin Investment, China Chengtong Holdings Group, China Guoxin and China Electronics Technology Group made the announcements before the opening of local stock markets on Tuesday.
They pledged to take measures including buying billions of dollars in China-listed stocks and exchange-traded funds.
China's financial regulator also said it plans to increase the percentage of insurance funds investing in the stock market.
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