🔗 Share this article

The former US president’s newest ultimatum to introduce an additional 100% tariff on Chinese goods has been described as a “prime illustration” of American hypocrisy, according to the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that China could enact its own undisclosed “countermeasures” if the White House occupant carries out his pledge, adding that the country was “unafraid” of a potential trade conflict.

This past Friday, the former president retaliated at the Chinese government’s action to tighten its policies for overseas sales of rare earth minerals, accusing China of “becoming very hostile” and attempting to hold the international market “hostage”.

Furthermore, he warned to withdraw from a scheduled summit with China’s President Xi, which was set for a conference in the Republic of Korea before the month ends.

His statements on Friday rattled stock exchanges, with the S&P 500 share index dropping 2.7%, marking its largest decline since April.

These statements renewed apprehensions of a trade conflict between the US and China.

This past spring, the respective governments had agreed to drop triple-digit tariffs on each other’s products, which had created the possibility of commerce ceasing between the economic powers.

Consequently, United States levies on Chinese goods incurring an additional import tax compared with the start of the year, while items from the United States entering the country are subject to a import levy.

China’s latest remarks – issued by the Commerce Ministry in the format of official answers to media inquiries – echoed language from the peak of the recent trade conflict.

The remarks condemned US export restrictions on chips and semi-conductors while justifying the country’s own restrictions on exports on rare earths as “routine measures” to safeguard domestic safety and that of the global community.

The official said that for “an extended period”, the America had “expanded the interpretation” of state security, abused overseas sale restrictions and “adopted discriminatory practices against China.

“Using” tariff threats is not the proper method to engage with Beijing,” the official commented.

“Beijing’s stance” on a import duty dispute has consistently been consistent: we do not want one, but we are not afraid of one.”

Recently, the Chinese government revealed it was tightening foreign shipment restrictions on key elements and other materials vital for cutting-edge industry.

The action was viewed as a key move, as the nation handles about ninety percent of the global rare earth supply, which are used in items such as renewable energy components and handheld devices.

The recent comments from Washington and Beijing are being seen by some as a method of enhancing bargaining power prior to upcoming negotiations.

Remains uncertain whether a summit between Trump and President Xi, planned at a conference in the Republic of Korea before month’s end, will take place as planned.