🔗 Share this article

The former US president’s most recent ultimatum to introduce an extra 100% tariff on Chinese goods has been called a “prime illustration” of American hypocrisy, as stated by the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that Beijing could implement its own unrevealed “retaliatory steps” if the American leader follows through on his pledge, adding that the country was “fearless” of a looming trade conflict.

This past Friday, Donald Trump responded at Beijing’s move to reinforce its rules for foreign shipments of rare earth minerals, accusing China of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

Additionally, he warned to cancel a arranged talks with China’s President President Xi, which was set for a meeting in Seoul before the month ends.

His statements on Friday shook global markets, with the S&P 500 share index dropping over two and a half percent, marking its biggest drop since April.

These statements revived fears of a trade war between the US and China.

This past spring, the both nations had consented to remove significant levies on each other’s products, which had created the possibility of commerce ceasing between the two nations.

Consequently, American import duties on Chinese imports subject to an additional 30% levy compared with the start of the year, while US goods entering China face a 10% tariff.

The most recent comments from China – issued by the Commerce Ministry in the manner of written responses to media inquiries – mirrored rhetoric from the peak of the latest commercial tensions.

They criticised US export restrictions on semiconductors and chips while defending the country’s own overseas sale regulations on rare earth minerals as “routine measures” to ensure domestic safety and that of the global community.

Their representative remarked that for “a long time”, the US had “overstretched the concept of national security, exploited overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Using” tariff threats is not the proper method to deal with Beijing,” the spokesperson stated.

“China’s position on a import duty dispute has remained unchanging: we do not want one, but we are unafraid of one.”

The previous week, China declared it was tightening foreign shipment restrictions on key elements and other materials vital for high-technology production.

This was seen as a significant step, as the state handles about the vast majority of the planet’s critical minerals, which are used in products such as solar panels and smartphones.

The recent comments from Washington and Beijing are being seen by some as a method of bolstering negotiating stances prior to forthcoming discussions.

Is not yet known whether a talks between Donald Trump and China’s leader, expected at a summit in Seoul in the coming weeks, will take place as planned.