🔗 Share this article

The former US president’s latest warning to impose an extra 100% tariff on items imported from China has been labeled a “prime illustration” of US double standards, as stated by the Chinese government.

A representative of the ministry also stated that China could introduce its own unrevealed “retaliatory steps” if the American leader follows through on his pledge, noting that the country was “fearless” of a possible trade war.

On Friday, Trump hit back at China’s decision to tighten its rules for foreign shipments of rare earth minerals, accusing China of “turning aggressive” and attempting to hold the world “under its control”.

He also threatened to withdraw from a scheduled talks with Chinese leader Xi, which was arranged for a meeting in South Korea before the month ends.

The former president’s remarks on Friday unsettled stock exchanges, with the benchmark US stock index closing down 2.7%, marking its biggest drop since last spring.

These statements renewed concerns of a trade conflict between the two economic giants.

In May, the both nations had consented to remove high import duties on each other’s goods, which had raised the prospect of bilateral trade stopping between the two countries.

As a result, American import duties on Chinese goods subject to an added 30% levy compared with the start of the year, while items from the United States entering the Chinese market face a import levy.

The most recent comments from China – released by the Commerce Ministry in the form of official answers to journalist’s questions – echoed terminology from the peak of the latest commercial tensions.

They criticised American limits on exports on chips and semi-conductors while defending China’s own overseas sale regulations on key elements as “routine measures” to ensure state interests and that of the global community.

The official remarked that for “many years”, the America had “expanded the interpretation” of state security, misused overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Resorting to import duty warnings is not the proper method to interact with Beijing,” the spokesperson stated.

“China’s position on a import duty dispute has remained unchanging: we do not want one, but we are fearless of one.”

Last week, the Chinese government revealed it was tightening overseas sale regulations on rare earth minerals and additional substances vital for high-technology production.

This was seen as a key move, as the nation processes about 90% of the global rare earth supply, which are used in items such as solar panels and smartphones.

Latest statements from Washington and Beijing are being seen by some as a method of enhancing bargaining power prior to future trade talks.

Remains uncertain whether a talks between Donald Trump and China’s leader, expected at a summit in the Republic of Korea later this month, will go ahead.