🔗 Share this article

Trump’s latest warning to enforce an further 100% tariff on products from China has been labeled a “classic case” of US double standards, as stated by the Chinese government.

A official from China’s Commerce Ministry further commented that Beijing could enact its own unrevealed “countermeasures” if the US President follows through on his warning, emphasizing that the country was “unafraid” of a looming commercial battle.

Last Friday, Donald Trump responded at Beijing’s move to reinforce its regulations for foreign shipments of rare earth minerals, charging the Chinese leadership of “becoming very hostile” and attempting to hold the international market “captive”.

Additionally, he warned to withdraw from a planned talks with Chinese leader President Xi, which was arranged for a summit in Seoul later this month.

His statements on Friday rattled financial markets, with the S&P 500 share index falling by nearly three percent, marking its biggest drop since earlier this year.

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

Earlier this year, the both nations had agreed to eliminate triple-digit tariffs on each other’s products, which had led to concerns of commerce ceasing between the two nations.

As a result, United States levies on products from China facing an extra 30% levy compared with the start of the year, while US goods entering the country incur a 10% tariff.

China’s latest remarks – published by the relevant government department in the form of formal replies to media inquiries – reflected rhetoric from the zenith of the latest commercial tensions.

They criticised US export restrictions on electronic components while defending Beijing’s export controls on rare earths as “routine measures” to safeguard national security and that of all nations.

The spokesperson stated that for “a long time”, the US had “broadened the definition” of state security, exploited foreign shipment regulations and “adopted unfair treatments against Beijing.

“Resorting to import duty warnings is not the proper method to deal with China,” the spokesperson stated.

“The nation’s view” on a trade conflict has remained consistent: we do not want one, but we are unafraid of one.”

The previous week, Beijing announced it was reinforcing export controls on rare earths and additional substances vital for advanced tech manufacturing.

The action was viewed as a significant step, as the country handles about 90% of the global rare earth supply, which are employed in products such as renewable energy components and smartphones.

The recent comments from both governments are being seen by analysts as a means of strengthening positions in preparation for future trade talks.

It is unclear whether a talks between Trump and Xi Jinping, expected at a conference in South Korea in the coming weeks, will still proceed.