🔗 Share this article

Donald Trump’s newest ultimatum to introduce an additional complete levy on products from China has been described as a “typical example” of American hypocrisy, as stated by the Beijing administration.

A Commerce Ministry spokesperson also stated that Beijing could introduce its own unrevealed “retaliatory steps” if the White House occupant executes his threat, emphasizing that the country was “fearless” of a possible trade conflict.

On Friday, Trump retaliated at China’s decision to strengthen its policies for foreign shipments of rare earths, accusing the Chinese leadership of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he vowed to cancel a arranged summit with Chinese leader Xi, which was set for a summit in Seoul before the month ends.

The former president’s remarks on Friday unsettled global markets, with the benchmark US stock index closing down 2.7%, marking its biggest drop since earlier this year.

His comments renewed fears of a trade war between the United States and China.

In May, the both nations had consented to drop significant levies on each other’s products, which had created the possibility of trade halting between the two countries.

Consequently, American import duties on products from China incurring an extra import tax compared with the year’s onset, while American products entering China incur a ten percent duty.

The most recent comments from China – released by the relevant government department in the format of formal replies to journalist’s questions – mirrored rhetoric from the zenith of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while supporting the country’s own restrictions on exports on rare earths as “normal actions” to safeguard national security and that of the global community.

The official stated that for “an extended period”, the US had “broadened the definition” of domestic safety, exploited overseas sale restrictions and “implemented” discriminatory practices against China.

“Turning to” import duty warnings is not the right way to interact with Beijing,” the spokesperson stated.

“China’s position on a trade conflict has remained unchanging: we wish to avoid one, but we are unafraid of one.”

Last week, the Chinese government declared it was reinforcing overseas sale regulations on key elements and further resources vital for advanced tech manufacturing.

This was seen as a significant step, as the state refines about the vast majority of the global rare earth supply, which are employed in items such as renewable energy components and mobile phones.

Latest statements from both governments are being viewed by analysts as a strategy of strengthening positions in preparation for forthcoming discussions.

Remains uncertain whether a summit between the former president and President Xi, expected at a conference in the Republic of Korea before month’s end, will still proceed.