🔗 Share this article

Donald Trump’s newest warning to impose an extra 100% tariff on Chinese goods has been described as a “typical example” of American hypocrisy, per the Beijing administration.

A representative of the ministry also stated that the nation could implement its own unspecified “retaliatory steps” if the White House occupant follows through on his pledge, noting that the country was “not afraid” of a potential trade war.

This past Friday, Donald Trump retaliated at China’s decision to tighten its rules for exports of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he threatened to pull out of a planned meeting with China’s President Xi Jinping, which was expected to take place during a meeting in the Republic of Korea in the coming weeks.

The former president’s remarks on last Friday rattled stock exchanges, with the benchmark US stock index falling by nearly three percent, marking its biggest drop since last spring.

These statements renewed apprehensions of a trade conflict between the US and China.

In May, the two sides had reached an agreement to drop significant levies on each other’s imports, which had raised the prospect of bilateral trade stopping between the two countries.

Consequently, American import duties on products from China subject to an added thirty percent tariff compared with the start of the year, while American products entering the country incur a 10% tariff.

China’s latest remarks – released by the relevant government department in the form of written responses to journalist’s questions – reflected terminology from the height of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while supporting Beijing’s export controls on rare earths as “normal actions” to safeguard domestic safety and that of all nations.

The official remarked that for “an extended period”, the America had “expanded the interpretation” of national security, exploited foreign shipment regulations and “enforced” unfair treatments against the Chinese nation.

“Using” trade levy ultimatums is not the right way to deal with Beijing,” the official commented.

“Beijing’s stance” on a tariff war has remained steady: we do not want one, but we are unafraid of one.”

Last week, Beijing declared it was reinforcing export controls on rare earths and further resources critical for cutting-edge industry.

The action was viewed as a key move, as the state processes about the vast majority of the world’s rare earths, which are used in items such as renewable energy components and smartphones.

The recent comments from both governments are being interpreted by observers as a method of strengthening positions in preparation for upcoming negotiations.

Is not yet known whether a meeting between Trump and President Xi, expected at a conference in the Republic of Korea later this month, will take place as planned.