🔗 Share this article

Donald Trump’s most recent warning to introduce an additional full import duty on Chinese goods has been labeled a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson further commented that the nation could introduce its own undisclosed “retaliatory steps” if the US President executes his warning, adding that the country was “fearless” of a possible trade conflict.

Last Friday, the former president retaliated at Beijing’s move to tighten its regulations for overseas sales of critical elements, accusing China of “turning aggressive” and attempting to hold the global community “hostage”.

He also vowed to withdraw from a planned talks with Beijing’s head of state President Xi, which was set for a conference in the Republic of Korea in the coming weeks.

Trump’s comments on Friday unsettled financial markets, with the benchmark US stock index dropping nearly three percent, marking its steepest fall since April.

These statements revived fears of a trade war between the US and China.

Earlier this year, the respective governments had agreed to eliminate high import duties on each other’s goods, which had created the possibility of commerce ceasing between the two nations.

Consequently, American import duties on Chinese goods incurring an additional import tax compared with the year’s onset, while American products entering China incur a 10% tariff.

The most recent comments from China – released by the Commerce Ministry in the manner of written responses to media inquiries – echoed rhetoric from the peak of the ongoing trade dispute.

Officials denounced US export restrictions on electronic components while defending Beijing’s export controls on rare earth minerals as “standard procedures” to ensure domestic safety and that of all nations.

Their representative said that for “a long time”, the US had “overstretched the concept of national security, misused export control measures and “enforced” biased policies against Beijing.

“Turning to” import duty warnings is not the right way to deal with Beijing,” the spokesperson said.

“Beijing’s stance” on a trade conflict has remained unchanging: we wish to avoid one, but we are fearless of one.”

Recently, Beijing declared it was tightening export controls on key elements and further resources essential to advanced tech manufacturing.

This was seen as a significant step, as the state refines about 90% of the world’s rare earths, which are utilized in goods such as solar panels and mobile phones.

New remarks from both governments are being interpreted by observers as a method of bolstering negotiating stances ahead of forthcoming discussions.

Is not yet known whether a talks between the former president and Xi Jinping, planned at a summit in South Korea in the coming weeks, will take place as planned.