🔗 Share this article

The former US president’s newest threat to introduce an further complete levy on products from China has been called a “typical example” of American hypocrisy, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that China could enact its own undisclosed “responsive actions” if the White House occupant follows through on his pledge, emphasizing that the country was “unafraid” of a potential commercial battle.

Last Friday, the former president responded at China’s decision to tighten its rules for foreign shipments of critical elements, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.

He also threatened to withdraw from a planned talks with Chinese leader Xi Jinping, which was set for a summit in the Republic of Korea in the coming weeks.

His statements on Friday shook stock exchanges, with the benchmark US stock index dropping over two and a half percent, marking its largest decline since April.

These statements revived apprehensions of a trade conflict between the two economic giants.

Earlier this year, the both nations had consented to remove triple-digit tariffs on each other’s products, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, US tariffs on Chinese goods facing an extra import tax compared with the start of the year, while US goods entering the country face a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the manner of formal replies to journalist’s questions – mirrored rhetoric from the peak of the latest commercial tensions.

They criticised US export restrictions on chips and semi-conductors while defending the country’s own overseas sale regulations on rare earths as “standard procedures” to ensure national security and that of the global community.

The spokesperson stated that for “an extended period”, the America had “overstretched the concept of state security, abused export control measures and “adopted discriminatory practices against the Chinese nation.

“Turning to” tariff threats is not the correct approach to engage with China,” their representative commented.

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

Last week, China declared it was strengthening foreign shipment restrictions on rare earths and other materials critical for high-technology production.

The action was viewed as a key move, as the nation refines about 90% of the global rare earth supply, which are utilized in items such as renewable energy components and handheld devices.

New remarks from Washington and Beijing are being viewed by some as a method of strengthening positions prior to future trade talks.

Is not yet known whether a meeting between Trump and China’s leader, scheduled at a high-level meeting in the Republic of Korea before month’s end, will take place as planned.