China has hit back against JD Vance, branding him "ignorant and impolite" following his derogatory comments on the nation's economy. The US vice president suggested that global markets were spurred on by "Chinese peasants", prompting the country's Foreign Ministry spokesperson Lin Jian to fiercely address his comments.

He responded: "It's both astonishing and lamentable to hear this vice president make such ignorant and disrespectful remarks." This comes as Beijing announced 84% tariffs on US imports after Donald Trump's 104% levy on Chinese goods. The finance ministry announced the additional levy on all goods imported from the US. The charges, up from the previous 34%, will take effect from 12:01 CST (5am BST) on April 10.

The CCP said: "The US's practice of escalating tariffs on China is a mistake on top of a mistake, which seriously infringes on China's legitimate rights and interests and seriously damages the rules-based multilateral trading system."

European stock markets witnessed a sharp decline after Beijing's announcement, with the Stoxx 600 index plummeting by 4.2%. The FTSE 100 also dropped 3.3% so far today, the German Dax was down 4%, and the French Cac 40 down by 4%.

Beijing previously signalled its unwillingness to back down in the trade war, declaring on Tuesday that it will "fight to the end".

Lin Jian, a Chinese foreign ministry spokesperson, said: "Judging from its actions, the US doesn't seem to be serious about having talks right now. If the US truly wants to talk, it should let people see that they're ready to treat others with equality, respect and mutual benefit."

The US president appeared to ignore the new tariff announcement from China, instead taking to his platform Truth Social to urge businesses to move to America.

He wrote: "This is a GREAT time to move your COMPANY into the United States of America, like Apple, and so many others, in record numbers, are doing.

"ZERO TARIFFS, and almost immediate Electrical/Energy hookups and approvals. No Environmental Delays. DON’T WAIT, DO IT NOW!"