🔗 Share this article

Trump’s newest threat to impose an extra 100% tariff on products from China has been called a “classic case” of US double standards, per the Chinese government.

A representative of the ministry further commented that the nation could enact its own unrevealed “retaliatory steps” if the American leader executes his threat, noting that the country was “unafraid” of a possible trade conflict.

This past Friday, Trump retaliated at Beijing’s move to tighten its policies for foreign shipments of rare earth minerals, accusing China of “becoming very hostile” and attempting to hold the world “hostage”.

Additionally, he warned to withdraw from a planned talks with Beijing’s head of state Xi, which was expected to take place during a conference in Seoul before the month ends.

Trump’s comments on that day unsettled stock exchanges, with the S&P 500 share index dropping 2.7%, marking its steepest fall since earlier this year.

His comments reignited fears of a trade war between the two economic giants.

Earlier this year, the respective governments had reached an agreement to remove significant levies on each other’s products, which had raised the prospect of commerce ceasing between the economic powers.

Consequently, American import duties on Chinese imports facing an added thirty percent tariff compared with the start of the year, while American products entering the country are subject to a import levy.

Beijing’s recent statements – released by the Ministry of Commerce in the manner of formal replies to journalist’s questions – mirrored language from the height of the latest commercial tensions.

The remarks condemned American limits on exports on electronic components while supporting China’s own overseas sale regulations on rare earths as “standard procedures” to protect national security and that of every country.

Their representative said that for “many years”, the America had “expanded the interpretation” of state security, exploited export control measures and “adopted unfair treatments against China.

“Turning to” import duty warnings is not the right way to engage with the Chinese government,” the official stated.

“China’s position on a import duty dispute has always been unchanging: we do not want one, but we are fearless of one.”

The previous week, China declared it was reinforcing overseas sale regulations on rare earth minerals and other materials vital for advanced tech manufacturing.

The action was viewed as a important measure, as the nation processes about 90% of the global rare earth supply, which are used in products such as solar panels and smartphones.

Latest statements from the US and China are being viewed by some as a means of enhancing bargaining power in preparation for future trade talks.

Remains uncertain whether a talks between the former president and China’s leader, scheduled at a summit in South Korea later this month, will still proceed.