🔗 Share this article

Donald Trump’s latest warning to enforce an additional complete levy on items imported from China has been called a “prime illustration” of US double standards, per the Beijing administration.

A representative of the ministry further commented that the nation could enact its own unrevealed “responsive actions” if the US President executes his pledge, emphasizing that the country was “unafraid” of a possible commercial battle.

Last Friday, Trump hit back at China’s decision to strengthen its regulations for exports of critical elements, charging Beijing of “becoming very hostile” and attempting to hold the international market “under its control”.

Furthermore, he threatened to withdraw from a scheduled talks with China’s President Xi, which was expected to take place during a summit in the Republic of Korea before the month ends.

The former president’s remarks on last Friday shook financial markets, with the S&P 500 share index falling by over two and a half percent, marking its steepest fall since last spring.

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

This past spring, the both nations had agreed to eliminate significant levies on each other’s imports, which had led to concerns of trade halting between the two nations.

As a result, American import duties on Chinese imports incurring an added 30% levy compared with the start of the year, while American products entering the country incur a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the manner of formal replies to journalist’s questions – reflected language from the zenith of the latest commercial tensions.

They criticised US export restrictions on electronic components while supporting Beijing’s restrictions on exports on rare earths as “standard procedures” to safeguard state interests and that of the global community.

The spokesperson said that for “a long time”, the America had “expanded the interpretation” of national security, abused overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.

“Turning to” trade levy ultimatums is not the correct approach to engage with China,” their representative stated.

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

Recently, the Chinese government revealed it was tightening overseas sale regulations on rare earth minerals and further resources essential to high-technology production.

The action was viewed as a significant step, as the country processes about the vast majority of the global rare earth supply, which are used in products such as photovoltaic modules and smartphones.

The recent comments from both governments are being interpreted by some as a strategy of strengthening positions prior to forthcoming discussions.

Remains uncertain whether a summit between Trump and Xi Jinping, scheduled at a high-level meeting in the Republic of Korea before month’s end, will go ahead.