🔗 Share this article

Trump’s newest threat to impose an additional 100% tariff on products from China has been labeled a “prime illustration” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson also stated that China could implement its own unrevealed “retaliatory steps” if the White House occupant follows through on his pledge, noting that the country was “not afraid” of a potential trade war.

On Friday, the former president responded at China’s decision to strengthen its policies for exports of rare earths, alleging China of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he threatened to pull out of a arranged meeting with Beijing’s head of state President Xi, which was arranged for a meeting in the Republic of Korea in the coming weeks.

The former president’s remarks on last Friday rattled financial markets, with the benchmark US stock index dropping over two and a half percent, marking its steepest fall since last spring.

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

Earlier this year, the both nations had consented to eliminate high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the economic powers.

Consequently, US tariffs on products from China subject to an additional 30% levy compared with the year’s onset, while items from the United States entering the country face a 10% tariff.

China’s latest remarks – published by the relevant government department in the format of formal replies to journalist’s questions – echoed rhetoric from the height of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while supporting Beijing’s overseas sale regulations on key elements as “standard procedures” to protect state interests and that of the global community.

Their representative stated that for “many years”, the America had “broadened the definition” of national security, abused foreign shipment regulations and “adopted discriminatory practices against China.

“Turning to” trade levy ultimatums is not the correct approach to engage with the Chinese government,” the official stated.

“China’s position on a trade conflict has consistently been unchanging: we do not want one, but we are fearless of one.”

The previous week, the Chinese government announced it was reinforcing overseas sale regulations on rare earth minerals and other materials critical for high-technology production.

This was seen as a significant step, as the country refines about 90% of the global rare earth supply, which are used in products such as renewable energy components and mobile phones.

Latest statements from Washington and Beijing are being viewed by observers as a means of strengthening positions ahead of forthcoming discussions.

Remains uncertain whether a talks between the former president and Xi Jinping, expected at a summit in the Republic of Korea later this month, will go ahead.