🔗 Share this article

The former US president’s newest warning to introduce an further full import duty on Chinese goods has been labeled a “classic case” of American hypocrisy, per the Beijing administration.

A representative of the ministry additionally remarked that China could introduce its own unspecified “countermeasures” if the White House occupant executes his warning, noting that the country was “not afraid” of a potential trade conflict.

This past Friday, Donald Trump retaliated at Beijing’s move to tighten its policies for exports of critical elements, charging the Chinese leadership of “turning aggressive” and attempting to hold the international market “hostage”.

Additionally, he threatened to pull out of a arranged meeting with China’s President Xi, which was arranged for a conference in South Korea later this month.

The former president’s remarks on Friday unsettled global markets, with the S&P 500 dropping nearly three percent, marking its biggest drop since last spring.

His comments revived fears of a trade war between the US and China.

In May, the two sides had agreed to drop high import duties on each other’s products, which had created the possibility of trade halting between the two nations.

This left, American import duties on products from China subject to an additional thirty percent tariff compared with the year’s onset, while items from the United States entering the country incur a 10% tariff.

The most recent comments from China – issued by the Commerce Ministry in the format of formal replies to press queries – mirrored language from the zenith of the ongoing trade dispute.

The remarks condemned United States controls on electronic components while justifying Beijing’s overseas sale regulations on rare earth minerals as “normal actions” to protect domestic safety and that of the global community.

The spokesperson stated that for “a long time”, the America had “overstretched the concept of state security, abused foreign shipment regulations and “implemented” discriminatory practices against Beijing.

“Turning to” tariff threats is not the right way to deal with Beijing,” the spokesperson said.

“The nation’s view” on a trade conflict has remained consistent: we do not want one, but we are fearless of one.”

Last week, China revealed it was tightening foreign shipment restrictions on rare earths and other materials vital for cutting-edge industry.

This move was regarded as a significant step, as the country processes about 90% of the world’s rare earths, which are used in items such as renewable energy components and smartphones.

Latest statements from both governments are being seen by some as a means of bolstering negotiating stances prior to forthcoming discussions.

Remains uncertain whether a talks between Donald Trump and China’s leader, scheduled at a high-level meeting in South Korea before month’s end, will take place as planned.