China vows ‘fight to the end’ on tariffs as it props up markets

China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies.

“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake,” the Chinese Ministry of Commerce said in a Tuesday statement. “If the U.S. insists on its own way, China will fight to the end.”

The Chinese response came hours after Trump vowed to slap additional...