🔗 Share this article

The former US president’s latest warning to enforce an additional complete levy on items imported from China has been labeled a “prime illustration” of US double standards, per the China’s leadership.

A representative of the ministry also stated that Beijing could implement its own unspecified “countermeasures” if the American leader follows through on his threat, adding that the country was “unafraid” of a potential trade war.

This past Friday, Donald Trump retaliated at Beijing’s move to tighten its regulations for overseas sales of rare earths, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also threatened to cancel a planned summit with Chinese leader President Xi, which was expected to take place during a summit in South Korea before the month ends.

The former president’s remarks on last Friday unsettled global markets, with the S&P 500 dropping over two and a half percent, marking its largest decline since earlier this year.

His comments revived concerns of a commercial dispute between the US and China.

Earlier this year, the respective governments had agreed to drop triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the economic powers.

This left, United States levies on products from China facing an extra import tax compared with the year’s onset, while items from the United States entering the Chinese market face a 10% tariff.

Beijing’s recent statements – released by the Commerce Ministry in the form of formal replies to press queries – mirrored language from the height of the latest commercial tensions.

The remarks condemned American limits on exports on semiconductors and chips while supporting China’s own export controls on rare earth minerals as “routine measures” to ensure state interests and that of every country.

Their representative stated that for “many years”, the United States had “overstretched the concept of national security, misused foreign shipment regulations and “implemented” discriminatory practices against the Chinese nation.

“Turning to” import duty warnings is not the proper method to engage with China,” the spokesperson stated.

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

Recently, the Chinese government declared it was strengthening foreign shipment restrictions on key elements and other materials vital for advanced tech manufacturing.

This was seen as a important measure, as the country processes about the vast majority of the world’s rare earths, which are employed in goods such as solar panels and mobile phones.

New remarks from Washington and Beijing are being interpreted by observers as a means of bolstering negotiating stances prior to upcoming negotiations.

It is unclear whether a meeting between the former president and China’s leader, planned at a summit in Seoul in the coming weeks, will take place as planned.