China will fight back if President-elect Donald Trump follows through on his promise to impose a 60% tariff on Chinese imports, according to Zhu Min, a former top official at the Chinese central bank.

With his nomination of China hardliner Marco Rubio for secretary of state, U.S. President-elect Donald Trump has signaled his policy toward Beijing could go beyond tariffs and trade to a more hawkish stance on China as the United States' main strategic rival.

As China attempts to move towards a consumption-based economy, the Politburo is trying to eliminate economic drags before President-elect Donald Trump imposes tariffs. While the markets are pessimistic,

China entered the fourth quarter with a more balanced economy as consumption growth nearly caught up to factory output, in an upswing that now depends on how much more stimulus Beijing may deploy in the event of a tariff shock when Donald Trump returns to the White House in 2025.

President-elect Donald Trump has pledged to levy tariffs on imported goods as part of his second-term economic strategy.