🔗 Share this article

Trump’s latest ultimatum to impose an extra complete levy on items imported from China has been described as a “prime illustration” of US double standards, as stated by the Chinese government.

A official from China’s Commerce Ministry further commented that the nation could implement its own unspecified “retaliatory steps” if the American leader executes his warning, emphasizing that the country was “unafraid” of a potential commercial battle.

On Friday, Donald Trump hit back at China’s decision to strengthen its policies for exports of rare earths, alleging Beijing of “turning aggressive” and attempting to hold the world “under its control”.

Additionally, he warned to withdraw from a scheduled meeting with Chinese leader Xi, which was set for a summit in the Republic of Korea later this month.

His statements on last Friday rattled financial markets, with the S&P 500 closing down over two and a half percent, marking its biggest drop since last spring.

The president’s words revived concerns of a commercial dispute between the US and China.

This past spring, the respective governments had agreed to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the two nations.

Consequently, American import duties on Chinese goods incurring an added 30% levy compared with the start of the year, while items from the United States entering the country are subject to a ten percent duty.

Beijing’s recent statements – published by the Ministry of Commerce in the form of official answers to media inquiries – mirrored terminology from the peak of the recent trade conflict.

Officials denounced American limits on exports on semiconductors and chips while justifying China’s own restrictions on exports on rare earths as “routine measures” to ensure domestic safety and that of every country.

Their representative said that for “a long time”, the America had “expanded the interpretation” of state security, exploited foreign shipment regulations and “adopted discriminatory practices against the Chinese nation.

“Turning to” import duty warnings is not the proper method to engage with Beijing,” the official commented.

“The nation’s view” on a import duty dispute has consistently been unchanging: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government declared it was tightening foreign shipment restrictions on key elements and additional substances vital for high-technology production.

This move was regarded as a significant step, as the nation refines about ninety percent of the global rare earth supply, which are used in items such as photovoltaic modules and mobile phones.

New remarks from Washington and Beijing are being seen by analysts as a method of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a meeting between Donald Trump and China’s leader, scheduled at a summit in Seoul later this month, will still proceed.