🔗 Share this article

Trump’s most recent threat to introduce an additional full import duty on products from China has been labeled a “typical example” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson also stated that the nation could enact its own unrevealed “retaliatory steps” if the White House occupant executes his warning, noting that the country was “not afraid” of a possible trade war.

On Friday, the former president hit back at China’s decision to strengthen its policies for exports of critical elements, charging Beijing of “becoming very hostile” and attempting to hold the world “under its control”.

Additionally, he threatened to pull out of a arranged talks with Chinese leader President Xi, which was set for a summit in Seoul before the month ends.

Trump’s comments on last Friday rattled global markets, with the benchmark US stock index closing down 2.7%, marking its largest decline since last spring.

The president’s words renewed apprehensions of a trade war between the two economic giants.

This past spring, the two sides had reached an agreement to eliminate high import duties on each other’s products, which had raised the prospect of bilateral trade stopping between the two nations.

Consequently, American import duties on Chinese imports facing an additional thirty percent tariff compared with the start of the year, while American products entering the country face a ten percent duty.

China’s latest remarks – published by the Commerce Ministry in the form of formal replies to press queries – reflected rhetoric from the peak of the ongoing trade dispute.

Officials denounced American limits on exports on chips and semi-conductors while defending the country’s own overseas sale regulations on key elements as “routine measures” to safeguard national security and that of the global community.

The spokesperson remarked that for “an extended period”, the US had “broadened the definition” of domestic safety, exploited export control measures and “implemented” unfair treatments against China.

“Using” trade levy ultimatums is not the correct approach to engage with China,” their representative stated.

“Beijing’s stance” on a trade conflict has remained unchanging: we do not want one, but we are unafraid of one.”

The previous week, the Chinese government announced it was tightening foreign shipment restrictions on rare earth minerals and additional substances essential to cutting-edge industry.

The action was viewed as a significant step, as the country refines about the vast majority of the global rare earth supply, which are used in items such as renewable energy components and handheld devices.

New remarks from the US and China are being seen by some as a strategy of strengthening positions in preparation for future trade talks.

Remains uncertain whether a summit between the former president and Xi Jinping, planned at a conference in South Korea later this month, will take place as planned.