🔗 Share this article

Trump’s newest ultimatum to enforce an further full import duty on Chinese goods has been described as a “classic case” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that China could implement its own undisclosed “responsive actions” if the White House occupant carries out his pledge, emphasizing that the country was “unafraid” of a looming commercial battle.

Last Friday, Donald Trump hit back at Beijing’s move to tighten its regulations for exports of rare earths, alleging Beijing of “turning aggressive” and attempting to hold the world “under its control”.

Furthermore, he vowed to cancel a planned talks with China’s President President Xi, which was set for a summit in Seoul before the month ends.

His statements on that day shook financial markets, with the S&P 500 falling by nearly three percent, marking its largest decline since last spring.

These statements renewed fears of a commercial dispute between the United States and China.

Earlier this year, the respective governments had consented to eliminate high import duties on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.

Consequently, US tariffs on Chinese imports subject to an extra import tax compared with the start of the year, while items from the United States entering the Chinese market face a ten percent duty.

Beijing’s recent statements – issued by the Ministry of Commerce in the manner of official answers to media inquiries – echoed rhetoric from the peak of the latest commercial tensions.

They criticised US export restrictions on semiconductors and chips while justifying Beijing’s restrictions on exports on rare earth minerals as “standard procedures” to protect national security and that of all nations.

The spokesperson stated that for “a long time”, the America had “overstretched the concept of domestic safety, exploited export control measures and “enforced” discriminatory practices against Beijing.

“Using” import duty warnings is not the right way to deal with the Chinese government,” the spokesperson stated.

“The nation’s view” on a trade conflict has consistently been unchanging: we do not want one, but we are unafraid of one.”

The previous week, Beijing announced it was reinforcing export controls on rare earths and other materials critical for cutting-edge industry.

This was seen as a key move, as the nation refines about 90% of the global rare earth supply, which are utilized in products such as renewable energy components and smartphones.

Latest statements from Washington and Beijing are being seen by observers as a means of bolstering negotiating stances in preparation for upcoming negotiations.

Is not yet known whether a meeting between Trump and China’s leader, planned at a high-level meeting in the Republic of Korea before month’s end, will go ahead.