🔗 Share this article

The former US president’s newest warning to introduce an additional 100% tariff on items imported from China has been called a “classic case” of American hypocrisy, as stated by the Chinese government.

A representative of the ministry additionally remarked that the nation could implement its own undisclosed “countermeasures” if the US President follows through on his threat, adding that the country was “not afraid” of a looming trade war.

Last Friday, Trump hit back at Beijing’s move to reinforce its regulations for overseas sales of rare earths, accusing China of “becoming very hostile” and attempting to hold the international market “captive”.

He also vowed to withdraw from a scheduled meeting with China’s President Xi, which was arranged for a conference in South Korea in the coming weeks.

Trump’s comments on Friday shook stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its biggest drop since April.

The president’s words revived concerns of a trade war between the United States and China.

Earlier this year, the both nations had consented to drop significant levies on each other’s goods, which had created the possibility of commerce ceasing between the two countries.

As a result, US tariffs on Chinese goods facing an extra import tax compared with the start of the year, while items from the United States entering China face a import levy.

The most recent comments from China – issued by the relevant government department in the form of official answers to journalist’s questions – reflected terminology from the zenith of the latest commercial tensions.

The remarks condemned American limits on exports on chips and semi-conductors while justifying Beijing’s restrictions on exports on rare earth minerals as “standard procedures” to safeguard domestic safety and that of all nations.

Their representative stated that for “an extended period”, the US had “overstretched the concept of domestic safety, misused export control measures and “implemented” unfair treatments against China.

“Resorting to tariff threats is not the right way to deal with Beijing,” their representative commented.

“China’s position on a tariff war has remained unchanging: we wish to avoid one, but we are fearless of one.”

Recently, China declared it was strengthening foreign shipment restrictions on rare earth minerals and further resources essential to high-technology production.

The action was viewed as a key move, as the state handles about the vast majority of the global rare earth supply, which are used in products such as photovoltaic modules and smartphones.

New remarks from the US and China are being seen by observers as a method of bolstering negotiating stances ahead of upcoming negotiations.

It is unclear whether a talks between the former president and President Xi, planned at a conference in Seoul later this month, will go ahead.