🔗 Share this article

The former US president’s latest warning to introduce an further full import duty on products from China has been labeled a “classic case” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry also stated that China could implement its own unrevealed “countermeasures” if the American leader carries out his threat, adding that the country was “not afraid” of a looming trade war.

Last Friday, Donald Trump retaliated at China’s decision to reinforce its policies for exports of critical elements, charging the Chinese leadership of “turning aggressive” and attempting to hold the world “under its control”.

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

His statements on that day shook financial markets, with the S&P 500 dropping 2.7%, marking its steepest fall since last spring.

His comments reignited apprehensions of a trade war between the United States and China.

This past spring, the two sides had reached an agreement to remove significant levies on each other’s goods, which had led to concerns of commerce ceasing between the two countries.

Consequently, United States levies on products from China incurring an added thirty percent tariff compared with the start of the year, while US goods entering the Chinese market incur a import levy.

The most recent comments from China – published by the relevant government department in the manner of formal replies to journalist’s questions – reflected rhetoric from the zenith of the recent trade conflict.

Officials denounced United States controls on semiconductors and chips while justifying China’s own restrictions on exports on rare earths as “routine measures” to protect domestic safety and that of the global community.

Their representative stated that for “many years”, the United States had “expanded the interpretation” of domestic safety, exploited export control measures and “adopted biased policies against China.

“Using” import duty warnings is not the proper method to deal with the Chinese government,” their representative commented.

“The nation’s view” on a tariff war has always been unchanging: we do not want one, but we are fearless of one.”

Recently, China announced it was reinforcing foreign shipment restrictions on rare earths and other materials vital for cutting-edge industry.

This move was regarded as a key move, as the country handles about ninety percent of the planet’s critical minerals, which are used in products such as solar panels and smartphones.

The recent comments from both governments are being interpreted by some as a means of bolstering negotiating stances ahead of upcoming negotiations.

It is unclear whether a talks between the former president and President Xi, scheduled at a high-level meeting in Seoul before month’s end, will go ahead.