🔗 Share this article

Donald Trump’s newest threat to introduce an additional 100% tariff on Chinese goods has been called a “prime illustration” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson also stated that China could implement its own unrevealed “retaliatory steps” if the US President executes his warning, adding that the country was “fearless” of a looming trade conflict.

On Friday, Trump retaliated at Beijing’s move to reinforce its regulations for exports of rare earths, accusing Beijing of “becoming very hostile” and attempting to hold the global community “captive”.

Furthermore, he vowed to cancel a scheduled meeting with China’s President Xi Jinping, which was expected to take place during a meeting in Seoul later this month.

Trump’s comments on Friday rattled stock exchanges, with the S&P 500 closing down nearly three percent, marking its biggest drop since last spring.

His comments reignited apprehensions of a commercial dispute between the US and China.

This past spring, the two sides had reached an agreement to eliminate high import duties on each other’s products, which had raised the prospect of trade halting between the two countries.

Consequently, United States levies on products from China incurring an added 30% levy compared with the year’s onset, while items from the United States entering the Chinese market face a import levy.

China’s latest remarks – released by the relevant government department in the manner of written responses to media inquiries – echoed rhetoric from the peak of the ongoing trade dispute.

The remarks condemned US export restrictions on electronic components while justifying the country’s own overseas sale regulations on rare earths as “normal actions” to protect state interests and that of all nations.

The spokesperson remarked that for “an extended period”, the America had “broadened the definition” of state security, exploited overseas sale restrictions and “enforced” discriminatory practices against China.

“Turning to” tariff threats is not the proper method to deal with Beijing,” the official stated.

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

Recently, the Chinese government announced it was reinforcing overseas sale regulations on key elements and other materials critical for cutting-edge industry.

The action was viewed as a key move, as the state refines about the vast majority of the world’s rare earths, which are used in goods such as renewable energy components and smartphones.

New remarks from the US and China are being seen by analysts as a strategy of bolstering negotiating stances in preparation for future trade talks.

It is unclear whether a talks between Trump and China’s leader, expected at a summit in the Republic of Korea in the coming weeks, will go ahead.