U.S. President Donald Trump on Tuesday defended the use of tariffs as part of his trade strategy while China vowed a tough response if the United States insists on escalating trade tensions amid ongoing negotiations. The United States kicked off a tariff battle with China in 2018, seeking sweeping structural changes from Beijing. But tensions between Washington and Beijing rose sharply in May after the Trump administration accused China of reneging on promises to make structural economic changes during months of trade talks. “Tariffs are a great negotiating tool,” Trump tweeted, one day after saying he was ready to impose another round of punitive tariffs on China. On Monday, the Republican president said he would raise tariffs on Chinese imports further if he cannot make progress […]