🔗 Share this article

The former US president’s most recent threat to enforce an further 100% tariff on products from China has been called a “classic case” of US double standards, per the Beijing administration.

A representative of the ministry additionally remarked that China could introduce its own undisclosed “responsive actions” if the White House occupant carries out his warning, emphasizing that the country was “not afraid” of a potential trade conflict.

Last Friday, Trump hit back at the Chinese government’s action to tighten its policies for foreign shipments of rare earth minerals, charging the Chinese leadership of “turning aggressive” and attempting to hold the international market “hostage”.

He also warned to withdraw from a arranged talks with China’s President Xi Jinping, which was expected to take place during a conference in the Republic of Korea later this month.

The former president’s remarks on last Friday unsettled global markets, with the S&P 500 falling by over two and a half percent, marking its largest decline since April.

The president’s words renewed fears of a trade war between the United States and China.

In May, the two sides had agreed to remove significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the economic powers.

As a result, American import duties on Chinese goods facing an extra thirty percent tariff compared with the year’s onset, while US goods entering the country are subject to a 10% tariff.

China’s latest remarks – released by the Ministry of Commerce in the manner of formal replies to media inquiries – echoed terminology from the peak of the recent trade conflict.

The remarks condemned American limits on exports on chips and semi-conductors while supporting Beijing’s restrictions on exports on rare earth minerals as “normal actions” to safeguard state interests and that of all nations.

Their representative stated that for “many years”, the America had “overstretched the concept of national security, exploited export control measures and “enforced” unfair treatments against China.

“Resorting to import duty warnings is not the correct approach to interact with China,” the official commented.

“China’s position on a trade conflict has consistently been steady: we do not want one, but we are unafraid of one.”

The previous week, China announced it was strengthening foreign shipment restrictions on rare earth minerals and other materials vital for high-technology production.

The action was viewed as a important measure, as the nation processes about 90% of the world’s rare earths, which are employed in products such as renewable energy components and handheld devices.

Latest statements from Washington and Beijing are being viewed by some as a method of bolstering negotiating stances prior to future trade talks.

Remains uncertain whether a talks between Donald Trump and President Xi, scheduled at a conference in Seoul before month’s end, will go ahead.