🔗 Share this article

Trump’s most recent ultimatum to introduce an extra complete levy on items imported from China has been called a “typical example” of American hypocrisy, as stated by the China’s leadership.

A Commerce Ministry spokesperson further commented that China could introduce its own unspecified “retaliatory steps” if the White House occupant carries out his threat, emphasizing that the country was “unafraid” of a potential trade war.

Last Friday, the former president responded at China’s decision to reinforce its policies for exports of rare earths, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

He also threatened to cancel a arranged summit with Chinese leader Xi Jinping, which was set for a conference in South Korea later this month.

His statements on that day rattled global markets, with the S&P 500 share index falling by over two and a half percent, marking its steepest fall since April.

His comments renewed fears of a trade war between the United States and China.

In May, the two sides had reached an agreement to drop high import duties on each other’s imports, which had created the possibility of bilateral trade stopping between the two countries.

This left, United States levies on Chinese imports subject to an additional 30% levy compared with the year’s onset, while US goods entering the country are subject to a ten percent duty.

The most recent comments from China – issued by the Ministry of Commerce in the manner of written responses to media inquiries – echoed language from the height of the recent trade conflict.

Officials denounced United States controls 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 “an extended period”, the US had “overstretched the concept of domestic safety, abused foreign shipment regulations and “enforced” unfair treatments against China.

“Resorting to import duty warnings is not the proper method to deal with Beijing,” the official said.

“The nation’s view” on a trade conflict has remained steady: we wish to avoid one, but we are fearless of one.”

Recently, Beijing declared it was reinforcing foreign shipment restrictions on rare earth minerals and other materials vital for cutting-edge industry.

This was seen as a significant step, as the nation refines about ninety percent of the world’s rare earths, which are utilized in products such as photovoltaic modules and handheld devices.

The recent comments from Washington and Beijing are being viewed by analysts as a method of enhancing bargaining power prior to upcoming negotiations.

It is unclear whether a meeting between Donald Trump and Xi Jinping, expected at a conference in the Republic of Korea in the coming weeks, will still proceed.