🔗 Share this article

Trump’s latest warning to enforce an extra 100% tariff on products from China has been called a “classic case” of US double standards, per the Chinese government.

A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unspecified “responsive actions” if the US President executes his threat, noting that the country was “fearless” of a possible commercial battle.

On Friday, Donald Trump responded at Beijing’s move to reinforce its rules for exports of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Furthermore, he vowed to withdraw from a arranged talks with China’s President Xi, which was expected to take place during a meeting in South Korea in the coming weeks.

His statements on that day unsettled stock exchanges, with the S&P 500 share index closing down over two and a half percent, marking its largest decline since April.

His comments renewed concerns of a trade war between the two economic giants.

Earlier this year, the both nations had consented to drop significant levies on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

As a result, American import duties on Chinese imports incurring an additional 30% levy compared with the start of the year, while US goods entering the country incur a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the form of written responses to press queries – mirrored terminology from the height of the ongoing trade dispute.

Officials denounced American limits on exports on electronic components while supporting the country’s own overseas sale regulations on rare earths as “normal actions” to safeguard state interests and that of the global community.

The spokesperson remarked that for “many years”, the America had “overstretched the concept of state security, misused overseas sale restrictions and “adopted biased policies against the Chinese nation.

“Resorting to tariff threats is not the proper method to deal with the Chinese government,” the official said.

“China’s position on a import duty dispute has remained steady: we are not seeking one, but we are fearless of one.”

Last week, China declared it was strengthening overseas sale regulations on rare earths and other materials critical for advanced tech manufacturing.

The action was viewed as a key move, as the country processes about 90% of the world’s rare earths, which are employed in products such as solar panels and mobile phones.

The recent comments from the US and China are being interpreted by observers as a method of enhancing bargaining power prior to future trade talks.

It is unclear whether a summit between Donald Trump and Xi Jinping, scheduled at a high-level meeting in the Republic of Korea in the coming weeks, will go ahead.