It seems that the trade war between the world's two largest economies will not cool down anytime soon, as Beijing has vowed to "fight to the end" just hours after U.S. President Donald Trump threatened to double tariffs on China.

This could lead to a high customs tax of 104 percent on most Chinese imports from the United States, marking a severe escalation between the two sides.

Smartphones, computers, lithium batteries, toys, and video game consoles make up the bulk of Chinese exports to the United States. However, there are many goods and products that range from screws to kettles.

As the deadline approaches in Washington, with Trump threatening to impose additional tariffs on Chinese imports to his country starting next Wednesday, who will back down first?

Will the black swan show up again? Let us know in the comments.

$BTC