🔗 Share this article

Donald Trump’s newest warning to impose an extra full import duty on Chinese goods has been described as a “typical example” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own unrevealed “countermeasures” if the US President follows through on his pledge, noting that the country was “not afraid” of a potential commercial battle.

Last Friday, Donald Trump retaliated at Beijing’s move to reinforce its regulations for exports of critical elements, charging China of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he vowed to cancel a planned meeting with Beijing’s head of state President Xi, which was expected to take place during a conference in South Korea in the coming weeks.

The former president’s remarks on last Friday shook stock exchanges, with the S&P 500 share index falling by nearly three percent, marking its biggest drop since April.

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

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

This left, American import duties on Chinese goods facing an additional thirty percent tariff 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 format of formal replies to journalist’s questions – reflected rhetoric from the zenith of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while justifying the country’s own overseas sale regulations on rare earth minerals as “standard procedures” to protect state interests and that of every country.

The official remarked that for “a long time”, the United States had “broadened the definition” of domestic safety, abused overseas sale restrictions and “implemented” biased policies against Beijing.

“Turning to” trade levy ultimatums is not the correct approach to deal with Beijing,” the official said.

“China’s position on a tariff war has always been consistent: we do not want one, but we are not afraid of one.”

The previous week, the Chinese government revealed it was strengthening overseas sale regulations on rare earths and further resources critical for advanced tech manufacturing.

The action was viewed as a significant step, as the state processes about the vast majority of the global rare earth supply, which are used in goods such as solar panels and handheld devices.

Latest statements from Washington and Beijing are being viewed by observers as a strategy of enhancing bargaining power in preparation for future trade talks.

Remains uncertain whether a talks between Trump and China’s leader, scheduled at a high-level meeting in South Korea later this month, will take place as planned.