🔗 Share this article

The former US president’s latest threat to enforce an extra 100% tariff on Chinese goods has been described as a “classic case” of US double standards, according to the China’s leadership.

A official from China’s Commerce Ministry also stated that Beijing could enact its own unrevealed “countermeasures” if the American leader carries out his pledge, adding that the country was “unafraid” of a looming trade war.

This past Friday, Trump retaliated at Beijing’s move to tighten its policies for exports of rare earth minerals, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Additionally, he vowed to withdraw from a arranged talks with China’s President President Xi, which was set for a meeting in South Korea in the coming weeks.

His statements on that day unsettled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its biggest drop since last spring.

The president’s words reignited apprehensions of a trade war between the United States and China.

Earlier this year, the two sides had consented to eliminate triple-digit tariffs on each other’s imports, which had led to concerns of bilateral trade stopping between the economic powers.

As a result, US tariffs on Chinese goods subject to an added 30% levy compared with the start of the year, while US goods entering the Chinese market are subject to a 10% tariff.

China’s latest remarks – issued by the Ministry of Commerce in the format of written responses to journalist’s questions – mirrored rhetoric from the peak of the recent trade conflict.

They criticised American limits on exports on semiconductors and chips while supporting China’s own export controls on key elements as “standard procedures” to ensure domestic safety and that of the global community.

The official remarked that for “an extended period”, the United States had “broadened the definition” of domestic safety, exploited foreign shipment regulations and “implemented” biased policies against Beijing.

“Using” tariff threats is not the correct approach to deal with Beijing,” the spokesperson said.

“Beijing’s stance” on a trade conflict has remained unchanging: we are not seeking one, but we are not afraid of one.”

Last week, the Chinese government revealed it was reinforcing overseas sale regulations on key elements and other materials critical for advanced tech manufacturing.

This move was regarded as a significant step, as the state handles about 90% of the planet’s critical minerals, which are used in products such as photovoltaic modules and handheld devices.

Latest statements from both governments are being seen by observers as a means of enhancing bargaining power in preparation for forthcoming discussions.

Remains uncertain whether a meeting between Trump and China’s leader, expected at a high-level meeting in Seoul later this month, will still proceed.