China's commerce minister says Beijing will not yield to bullying and its economy can weather tariffs and other challenges, though there are “no winners in a trade war."

Beijing announced Tuesday additional tariffs as high as 15% on certain U.S. goods, starting from March 10 and a series of new export restrictions for designated U.S. entities.

Lin made the comments after an additional 10% tariff on Chinese imports to the U.S. took effect Tuesday, prompting China to announce it would increase import duties by 10-15% on several key American agricultural food products, plus expand export controls on 15 U.S. firms in retaliation.