🔗 Share this article

Trump’s most recent ultimatum to impose an extra full import duty on items imported from China has been described as a “prime illustration” of American hypocrisy, as stated by the Beijing administration.

A representative of the ministry further commented that the nation could implement its own unrevealed “countermeasures” if the US President executes his threat, emphasizing that the country was “not afraid” of a potential commercial battle.

This past Friday, Trump hit back at China’s decision to tighten its rules for foreign shipments of rare earths, charging China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Furthermore, he warned to cancel a scheduled summit with China’s President Xi Jinping, which was arranged for a summit in Seoul in the coming weeks.

Trump’s comments on Friday unsettled stock exchanges, with the S&P 500 share index closing down 2.7%, marking its steepest fall since April.

The president’s words revived fears of a trade conflict between the two economic giants.

In May, the respective governments had agreed to drop triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the economic powers.

Consequently, American import duties on Chinese goods incurring an added import tax compared with the year’s onset, while American products entering the Chinese market face a 10% tariff.

The most recent comments from China – issued by the Commerce Ministry in the form of written responses to journalist’s questions – echoed terminology from the peak of the ongoing trade dispute.

The remarks condemned United States controls on chips and semi-conductors while supporting China’s own overseas sale regulations on key elements as “normal actions” to protect domestic safety and that of all nations.

The spokesperson stated that for “a long time”, the United States had “overstretched the concept of domestic safety, misused overseas sale restrictions and “implemented” discriminatory practices against Beijing.

“Using” tariff threats is not the correct approach to engage with the Chinese government,” the spokesperson stated.

“The nation’s view” on a tariff war has remained steady: we do not want one, but we are fearless of one.”

Recently, China revealed it was reinforcing export controls on rare earths and further resources critical for high-technology production.

This move was regarded as a important measure, as the country handles about 90% of the world’s rare earths, which are used in products such as solar panels and handheld devices.

Latest statements from Washington and Beijing are being seen by observers as a method of bolstering negotiating stances in preparation for future trade talks.

It is unclear whether a talks between Trump and China’s leader, expected at a high-level meeting in South Korea later this month, will take place as planned.