🔗 Share this article

Trump’s most recent threat to introduce an further 100% tariff on Chinese goods has been labeled a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that the nation could implement its own undisclosed “countermeasures” if the White House occupant carries out his pledge, emphasizing that the country was “fearless” of a possible trade war.

Last Friday, Trump responded at the Chinese government’s action to reinforce its regulations for foreign shipments of rare earth minerals, alleging China of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he vowed to cancel a arranged talks with Chinese leader Xi Jinping, which was arranged for a meeting in South Korea before the month ends.

His statements on Friday rattled stock exchanges, with the benchmark US stock index falling by nearly three percent, marking its steepest fall since April.

His comments renewed concerns of a trade conflict between the US and China.

Earlier this year, the both nations had reached an agreement to drop high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

Consequently, US tariffs on Chinese goods incurring an extra 30% levy compared with the year’s onset, while US goods entering the country face a ten percent duty.

China’s latest remarks – published by the relevant government department in the manner of written responses to journalist’s questions – echoed rhetoric from the zenith of the latest commercial tensions.

The remarks condemned US export restrictions on chips and semi-conductors while supporting China’s own restrictions on exports on rare earths as “routine measures” to protect national security and that of the global community.

The official stated that for “a long time”, the United States had “broadened the definition” of national security, abused overseas sale restrictions and “enforced” discriminatory practices against Beijing.

“Resorting to tariff threats is not the right way to interact with China,” the spokesperson said.

“Beijing’s stance” on a tariff war has remained consistent: we are not seeking one, but we are fearless of one.”

Last week, the Chinese government revealed it was tightening overseas sale regulations on rare earths and additional substances essential to advanced tech manufacturing.

The action was viewed as a significant step, as the country refines about ninety percent of the global rare earth supply, which are employed in products such as photovoltaic modules and smartphones.

Latest statements from the US and China are being interpreted by observers as a strategy of enhancing bargaining power prior to forthcoming discussions.

Remains uncertain whether a summit between Trump and China’s leader, scheduled at a summit in the Republic of Korea in the coming weeks, will still proceed.