🔗 Share this article

Donald Trump’s newest threat to enforce an further full import duty on products from China has been described as a “typical example” of American hypocrisy, as stated by the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that China could introduce its own unspecified “retaliatory steps” if the US President carries out his pledge, adding that the country was “unafraid” of a potential trade conflict.

Last Friday, Trump hit back at the Chinese government’s action to reinforce its rules for foreign shipments of rare earths, accusing Beijing of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he warned to withdraw from a arranged talks with Beijing’s head of state Xi, which was arranged for a summit in South Korea in the coming weeks.

His statements on that day rattled financial markets, with the S&P 500 dropping 2.7%, marking its biggest drop since last spring.

His comments revived concerns of a commercial dispute between the United States and China.

Earlier this year, the two sides had reached an agreement to remove triple-digit tariffs on each other’s imports, which had led to concerns of bilateral trade stopping between the two nations.

This left, US tariffs on products from China subject to an additional thirty percent tariff compared with the start of the year, while US goods entering the Chinese market are subject to a import levy.

The most recent comments from China – issued by the Commerce Ministry in the format of formal replies to journalist’s questions – reflected rhetoric from the peak of the recent trade conflict.

Officials denounced American limits on exports on chips and semi-conductors while supporting the country’s own export controls on key elements as “routine measures” to protect national security and that of the global community.

The spokesperson stated that for “an extended period”, the US had “expanded the interpretation” of domestic safety, abused export control measures and “adopted unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the correct approach to interact with Beijing,” their representative said.

“China’s position on a import duty dispute has consistently been steady: we do not want one, but we are not afraid of one.”

Recently, China declared it was reinforcing overseas sale regulations on rare earth minerals and further resources vital for high-technology production.

This move was regarded as a key move, as the nation refines about ninety percent of the world’s rare earths, which are employed in items such as renewable energy components and mobile phones.

The recent comments from Washington and Beijing are being interpreted by observers as a means of strengthening positions ahead of forthcoming discussions.

It is unclear whether a talks between Donald Trump and Xi Jinping, planned at a summit in the Republic of Korea before month’s end, will take place as planned.