🔗 Share this article

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

A Commerce Ministry spokesperson further commented that China could implement its own undisclosed “retaliatory steps” if the White House occupant executes his warning, adding that the country was “unafraid” of a possible trade conflict.

Last Friday, Donald Trump hit back at Beijing’s move to tighten its policies for exports of rare earths, accusing Beijing of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Additionally, he warned to pull out of a scheduled summit with Chinese leader Xi Jinping, which was set for a summit in the Republic of Korea later this month.

Trump’s comments on last Friday rattled global markets, with the S&P 500 falling by nearly three percent, marking its largest decline since earlier this year.

The president’s words renewed concerns of a commercial dispute between the US and China.

This past spring, the respective governments had reached an agreement to drop significant levies on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.

As a result, United States levies on Chinese goods incurring an extra 30% levy compared with the year’s onset, while US goods entering the country face a ten percent duty.

China’s latest remarks – released by the relevant government department in the manner of formal replies to journalist’s questions – mirrored language from the height of the ongoing trade dispute.

Officials denounced United States controls on chips and semi-conductors while supporting the country’s own overseas sale regulations on rare earth minerals as “standard procedures” to protect national security and that of the global community.

The official stated that for “many years”, the America had “broadened the definition” of national security, abused foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the right way to interact with China,” the spokesperson commented.

“Beijing’s stance” on a trade conflict has consistently been unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, China revealed it was strengthening export controls on key elements and further resources critical for cutting-edge industry.

This move was regarded as a key move, as the nation refines about 90% of the planet’s critical minerals, which are utilized in products such as solar panels and mobile phones.

Latest statements from Washington and Beijing are being interpreted by observers as a strategy of bolstering negotiating stances ahead of future trade talks.

Remains uncertain whether a meeting between Trump and Xi Jinping, planned at a conference in South Korea later this month, will go ahead.