China vows to fight United States ‘at any cost' after Donald Trump plans additional $100bn tariffs

China has vowed to fight the United States ‘at any cost’ after US President Donald Trump plans an additional $100 billion (£71 billion) in tariffs on Chinese goods.

Mr Trump’s move comes a day after Beijing announced plans to tax $50 billion (£35 billion) in American products.

Financial markets fell sharply following the tit-for-tat trade row between the world's two largest economies.

In Beijing, the Commerce Ministry said China is not afraid to fight a trade war.

"China will dedicate itself to the end and at any cost and will definitely fight back firmly" if the US persists in its "protectionism," the ministry said in a statement.

Mr Trump's plan for additional tariffs had been a surprise - causing global markets to sharply fall. Credit: AP

In a statement, Mr Trump said "China's illicit trade practices - ignored for years by Washington - have destroyed thousands of American factories and millions of American jobs.”

He has also instructed his secretary of agriculture "to implement a plan to protect our farmers and agricultural interests".