🔗 Share this article

The former US president’s latest ultimatum to introduce an extra 100% tariff on Chinese goods has been labeled a “prime illustration” of United States’ contradictory behavior, as stated by the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could introduce its own unspecified “countermeasures” if the US President executes his warning, noting that the country was “not afraid” of a potential trade war.

On Friday, Donald Trump responded at Beijing’s move to strengthen its rules for overseas sales of rare earth minerals, accusing Beijing of “adopting a confrontational stance” and attempting to hold the international market “under its control”.

Additionally, he threatened to cancel a arranged talks with Beijing’s head of state President Xi, which was set for a summit in the Republic of Korea before the month ends.

Trump’s comments on that day unsettled financial markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since April.

These statements renewed fears of a trade conflict between the two economic giants.

Earlier this year, the respective governments had reached an agreement to eliminate high import duties on each other’s imports, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, US tariffs on Chinese imports incurring an added import tax compared with the year’s onset, while American products entering the Chinese market face a import levy.

The most recent comments from China – released by the relevant government department in the manner of formal replies to press queries – echoed language from the peak of the ongoing trade dispute.

They criticised American limits on exports on electronic components while defending China’s own restrictions on exports on rare earth minerals as “routine measures” to protect national security and that of the global community.

The spokesperson remarked that for “an extended period”, the United States had “broadened the definition” of national security, abused overseas sale restrictions and “implemented” discriminatory practices against China.

“Using” import duty warnings is not the right way to engage with China,” the spokesperson stated.

“Beijing’s stance” on a import duty dispute has remained unchanging: we wish to avoid one, but we are not afraid of one.”

Recently, China revealed it was tightening overseas sale regulations on rare earths and additional substances vital for high-technology production.

This move was regarded as a important measure, as the country processes about the vast majority of the world’s rare earths, which are employed in products such as photovoltaic modules and mobile phones.

New remarks from Washington and Beijing are being viewed by observers as a means of bolstering negotiating stances ahead of future trade talks.

Is not yet known whether a summit between Trump and President Xi, expected at a high-level meeting in the Republic of Korea before month’s end, will go ahead.