🔗 Share this article

Trump’s newest threat to introduce an further full import duty on items imported from China has been labeled a “typical example” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry also stated that China could introduce its own unrevealed “countermeasures” if the White House occupant carries out his warning, adding that the country was “fearless” of a potential trade conflict.

This past Friday, Donald Trump responded at China’s decision to strengthen its policies for exports of rare earths, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the international market “under its control”.

Furthermore, he warned to cancel a planned summit with China’s President Xi, which was arranged for a meeting in Seoul in the coming weeks.

Trump’s comments on last Friday unsettled stock exchanges, with the S&P 500 closing down over two and a half percent, marking its largest decline since last spring.

His comments reignited fears of a commercial dispute between the United States and China.

This past spring, the two sides had consented to remove triple-digit tariffs on each other’s products, which had led to concerns of commerce ceasing between the economic powers.

As a result, United States levies on Chinese goods incurring an added thirty percent tariff compared with the start of the year, while US goods entering the country incur a import levy.

The most recent comments from China – published by the relevant government department in the format of formal replies to press queries – reflected rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned US export restrictions on electronic components while justifying Beijing’s restrictions on exports on rare earths as “routine measures” to protect domestic safety and that of all nations.

Their representative remarked that for “a long time”, the United States had “overstretched the concept of domestic safety, exploited overseas sale restrictions and “enforced” biased policies against China.

“Turning to” import duty warnings is not the proper method to interact with Beijing,” the spokesperson said.

“Beijing’s stance” on a trade conflict has remained steady: we are not seeking one, but we are not afraid of one.”

The previous week, China announced it was strengthening foreign shipment restrictions on rare earths and other materials essential to high-technology production.

This move was regarded as a important measure, as the nation handles about the vast majority of the global rare earth supply, which are employed in items such as solar panels and handheld devices.

Latest statements from both governments are being viewed by some as a means of bolstering negotiating stances prior to future trade talks.

Is not yet known whether a talks between Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea before month’s end, will still proceed.