🔗 Share this article

Donald Trump’s latest warning to enforce an further 100% tariff on Chinese goods has been described as a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own unspecified “countermeasures” if the US President follows through on his pledge, adding that the country was “not afraid” of a possible trade war.

This past Friday, the former president responded at the Chinese government’s action to tighten its regulations for exports of rare earths, accusing Beijing of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he vowed to withdraw from a planned meeting with Chinese leader President Xi, which was expected to take place during a conference in Seoul before the month ends.

His statements on last Friday rattled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its biggest drop since last spring.

These statements revived apprehensions of a commercial dispute between the United States and China.

Earlier this year, the two sides had agreed to remove triple-digit tariffs on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

This left, American import duties on Chinese imports incurring an added import tax compared with the year’s onset, while American products entering China face a ten percent duty.

Beijing’s recent statements – released by the Commerce Ministry in the form of official answers to journalist’s questions – reflected rhetoric from the peak of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while supporting the country’s own export controls on rare earth minerals as “standard procedures” to protect national security and that of every country.

Their representative remarked that for “many years”, the America had “expanded the interpretation” of domestic safety, exploited overseas sale restrictions and “adopted discriminatory practices against the Chinese nation.

“Resorting to trade levy ultimatums is not the correct approach to interact with the Chinese government,” the official commented.

“The nation’s view” on a import duty dispute has remained steady: we wish to avoid one, but we are not afraid of one.”

Last week, Beijing declared it was strengthening foreign shipment restrictions on rare earths and additional substances vital for advanced tech manufacturing.

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

New remarks from both governments are being seen by analysts as a means of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a talks between Trump and Xi Jinping, planned at a high-level meeting in South Korea later this month, will still proceed.