🔗 Share this article

The former US president’s newest ultimatum to enforce an extra complete levy on products from China has been described as a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry further commented that China could implement its own unspecified “retaliatory steps” if the White House occupant follows through on his pledge, adding that the country was “fearless” of a potential trade conflict.

This past Friday, the former president hit back at China’s decision to strengthen its rules for overseas sales of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the global community “hostage”.

He also vowed to cancel a scheduled meeting with Chinese leader Xi Jinping, which was arranged for a meeting in the Republic of Korea before the month ends.

Trump’s comments on that day rattled global markets, with the S&P 500 share index closing down nearly three percent, marking its biggest drop since last spring.

His comments reignited apprehensions of a trade conflict between the two economic giants.

This past spring, the two sides had reached an agreement to eliminate significant levies on each other’s products, which had led to concerns of bilateral trade stopping between the two nations.

As a result, US tariffs on Chinese goods subject to an additional import tax compared with the year’s onset, while American products entering the Chinese market face a ten percent duty.

Beijing’s recent statements – released by the Ministry of Commerce in the manner of formal replies to journalist’s questions – echoed rhetoric from the zenith of the latest commercial tensions.

Officials denounced American limits on exports on chips and semi-conductors while supporting Beijing’s overseas sale regulations on rare earths as “normal actions” to safeguard national security and that of every country.

The spokesperson stated that for “an extended period”, the United States had “broadened the definition” of state security, abused export control measures and “implemented” discriminatory practices against China.

“Using” import duty warnings is not the right way to interact with China,” the official stated.

“The nation’s view” on a import duty dispute has always been consistent: we are not seeking one, but we are fearless of one.”

Recently, Beijing declared it was reinforcing export controls on key elements and additional substances essential to cutting-edge industry.

This move was regarded as a key move, as the country processes about the vast majority of the planet’s critical minerals, which are employed in products such as solar panels and smartphones.

The recent comments from both governments are being interpreted by observers as a method of enhancing bargaining power in preparation for future trade talks.

Remains uncertain whether a summit between Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea before month’s end, will go ahead.