🔗 Share this article

The former US president’s most recent ultimatum to introduce an further full import duty on Chinese goods has been described as a “typical example” of US double standards, as stated by the Beijing administration.

A representative of the ministry further commented that the nation could implement its own unrevealed “countermeasures” if the American leader executes his threat, noting that the country was “not afraid” of a possible commercial battle.

On Friday, Trump retaliated at Beijing’s move to reinforce its rules for foreign shipments of rare earth minerals, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Furthermore, he warned to cancel a arranged summit with Chinese leader Xi, which was set for a summit in the Republic of Korea before the month ends.

The former president’s remarks on last Friday shook financial markets, with the benchmark US stock index falling by nearly three percent, marking its largest decline since April.

His comments renewed concerns of a trade war between the United States and China.

Earlier this year, the both nations had reached an agreement to remove high import duties on each other’s imports, which had led to concerns of commerce ceasing between the two nations.

Consequently, United States levies on Chinese imports incurring an added import tax compared with the start of the year, while American products entering China incur a 10% tariff.

China’s latest remarks – published by the relevant government department in the format of written responses to media inquiries – reflected language from the peak of the ongoing trade dispute.

The remarks condemned American limits on exports on electronic components while justifying Beijing’s overseas sale regulations on key elements as “standard procedures” to safeguard state interests and that of every country.

The official remarked that for “many years”, the America had “expanded the interpretation” of national security, exploited overseas sale restrictions and “implemented” discriminatory practices against the Chinese nation.

“Using” trade levy ultimatums is not the right way to deal with Beijing,” the spokesperson commented.

“China’s position on a tariff war has remained steady: we are not seeking one, but we are fearless of one.”

Last week, the Chinese government announced it was tightening foreign shipment restrictions on key elements and additional substances essential to high-technology production.

The action was viewed as a important measure, as the country processes about the vast majority of the global rare earth supply, which are utilized in items such as photovoltaic modules and handheld devices.

The recent comments from both governments are being interpreted by observers as a strategy of bolstering negotiating stances ahead of future trade talks.

Is not yet known whether a talks between Trump and Xi Jinping, planned at a conference in Seoul later this month, will take place as planned.