🔗 Share this article

The former US president’s newest warning to introduce an further complete levy on products from China has been called a “typical example” of American hypocrisy, according to the China’s leadership.

A representative of the ministry additionally remarked that China could introduce its own unspecified “retaliatory steps” if the White House occupant carries out his pledge, emphasizing that the country was “fearless” of a looming trade war.

On Friday, Donald Trump hit back at China’s decision to reinforce its rules for foreign shipments of rare earths, charging Beijing of “turning aggressive” and attempting to hold the international market “under its control”.

Furthermore, he threatened to withdraw from a scheduled talks with China’s President Xi, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on that day rattled global markets, with the benchmark US stock index closing down nearly three percent, marking its steepest fall since last spring.

The president’s words reignited concerns of a trade conflict between the two economic giants.

This past spring, the both nations had consented to eliminate high import duties on each other’s imports, which had raised the prospect of bilateral trade stopping between the two countries.

As a result, American import duties on products from China facing an added 30% levy compared with the start of the year, while American products entering the country face a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the form of formal replies to press queries – reflected language from the height of the latest commercial tensions.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own overseas sale regulations on key elements as “routine measures” to safeguard national security and that of all nations.

The spokesperson said that for “many years”, the America had “expanded the interpretation” of national security, misused foreign shipment regulations and “enforced” biased policies against China.

“Resorting to tariff threats is not the right way to deal with China,” their representative commented.

“Beijing’s stance” on a trade conflict has always been steady: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing announced it was strengthening overseas sale regulations on rare earths and further resources critical for high-technology production.

This move was regarded as a important measure, as the country processes about the vast majority of the global rare earth supply, which are used in products such as solar panels and handheld devices.

New remarks from Washington and Beijing are being seen by observers as a means of enhancing bargaining power ahead of forthcoming discussions.

It is unclear whether a talks between the former president and China’s leader, scheduled at a summit in South Korea in the coming weeks, will take place as planned.