🔗 Share this article

The former US president’s newest threat to introduce an further complete levy on products from China has been described as a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could introduce its own unrevealed “responsive actions” if the American leader executes his threat, noting that the country was “fearless” of a looming trade war.

This past Friday, the former president retaliated at China’s decision to tighten its regulations for exports of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Furthermore, he threatened to cancel a scheduled summit with Beijing’s head of state Xi, which was set for a summit in the Republic of Korea before the month ends.

Trump’s comments on last Friday rattled global markets, with the benchmark US stock index dropping nearly three percent, marking its largest decline since April.

These statements revived apprehensions of a commercial dispute between the US and China.

Earlier this year, the two sides had agreed to remove significant levies on each other’s goods, which had raised the prospect of bilateral trade stopping between the two countries.

Consequently, United States levies on Chinese goods subject to an additional 30% levy compared with the start of the year, while US goods entering China are subject to a 10% tariff.

Beijing’s recent statements – released by the relevant government department in the manner of formal replies to press queries – reflected rhetoric from the zenith of the recent trade conflict.

They criticised American limits on exports on semiconductors and chips while justifying China’s own export controls on rare earths as “routine measures” to protect domestic safety and that of the global community.

The spokesperson stated that for “an extended period”, the America had “expanded the interpretation” of state security, exploited overseas sale restrictions and “implemented” unfair treatments against Beijing.

“Turning to” import duty warnings is not the proper method to deal with China,” their representative said.

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

Recently, Beijing declared it was strengthening foreign shipment restrictions on rare earths and additional substances critical for cutting-edge industry.

This was seen as a important measure, as the country refines about ninety percent of the planet’s critical minerals, which are employed in products such as photovoltaic modules and mobile phones.

New remarks from Washington and Beijing are being seen by some as a method of strengthening positions in preparation for future trade talks.

Is not yet known whether a meeting between Trump and Xi Jinping, scheduled at a conference in South Korea later this month, will take place as planned.