🔗 Share this article

Trump’s most recent warning to impose an extra complete levy on Chinese goods has been called a “classic case” of US double standards, according to the Chinese government.

A Commerce Ministry spokesperson further commented that Beijing could implement its own undisclosed “retaliatory steps” if the White House occupant carries out his threat, adding that the country was “fearless” of a potential commercial battle.

Last Friday, the former president responded at Beijing’s move to tighten its regulations for exports of critical elements, alleging Beijing of “becoming very hostile” and attempting to hold the global community “captive”.

Additionally, he warned to cancel a planned meeting with Beijing’s head of state President Xi, which was set for a summit in Seoul later this month.

His statements on Friday rattled global markets, with the S&P 500 falling by 2.7%, marking its biggest drop since April.

The president’s words reignited apprehensions of a commercial dispute between the two economic giants.

This past spring, the both nations had agreed 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 incurring an additional 30% levy compared with the year’s onset, while American products entering the Chinese market are subject to a import levy.

The most recent comments from China – issued by the Commerce Ministry in the manner of written responses to journalist’s questions – mirrored rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned United States controls on electronic components while supporting the country’s own overseas sale regulations on rare earths as “normal actions” to safeguard domestic safety and that of the global community.

Their representative remarked that for “a long time”, the America had “expanded the interpretation” of domestic safety, misused export control measures and “enforced” unfair treatments against Beijing.

“Turning to” trade levy ultimatums is not the proper method to engage with China,” the official stated.

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

Recently, the Chinese government revealed it was strengthening foreign shipment restrictions on key elements and additional substances essential to advanced tech manufacturing.

This move was regarded as a important measure, as the state refines about 90% of the world’s rare earths, which are employed in products such as photovoltaic modules and smartphones.

New remarks from both governments are being interpreted by observers as a strategy of strengthening positions in preparation for upcoming negotiations.

Remains uncertain whether a meeting between the former president and China’s leader, expected at a summit in the Republic of Korea later this month, will still proceed.