China has vowed to retaliate against U.S. tariffs, declaring its readiness to engage in any trade war. The Chinese Embassy in Washington issued a statement condemning the latest tariff hikes imposed by the U.S. government. Former President Donald Trump, in his first speech after securing a second term, announced additional tariffs, set to take effect on April 2. In response, China, along with Canada and Mexico, has threatened countermeasures. Analysts warn that the situation is escalating into a full-scale global trade war. On Tuesday night, the U.S. imposed a 25% tariff on imports from Mexico and Canada, while Chinese goods were hit with an additional 10% tariff.