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.

In seeking an accord with U.S., Beijing wants to avoid becoming isolated like the Soviet Union during the Cold War.