🔗 Share this article

The former US president’s latest threat to introduce an additional 100% tariff 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 also stated that Beijing could implement its own undisclosed “countermeasures” if the US President follows through on his threat, noting that the country was “unafraid” of a looming trade conflict.

Last Friday, the former president hit back at the Chinese government’s action to strengthen its rules for overseas sales of critical elements, accusing Beijing of “turning aggressive” and attempting to hold the international market “captive”.

He also threatened to cancel a arranged meeting with Beijing’s head of state Xi Jinping, which was expected to take place during a meeting in Seoul in the coming weeks.

His statements on last Friday unsettled global markets, with the S&P 500 dropping 2.7%, marking its largest decline since last spring.

These statements renewed fears of a trade conflict between the two economic giants.

In May, the both nations had agreed to drop high import duties on each other’s imports, which had created the possibility of bilateral trade stopping between the two countries.

Consequently, American import duties on Chinese goods facing an extra thirty percent tariff compared with the start of the year, while US goods entering China incur a ten percent duty.

Beijing’s recent statements – released by the Commerce Ministry in the manner of formal replies to media inquiries – echoed terminology from the peak of the recent trade conflict.

The remarks condemned United States controls on semiconductors and chips while justifying China’s own export controls on key elements as “routine measures” to protect domestic safety and that of every country.

Their representative said that for “an extended period”, the America had “expanded the interpretation” of state security, misused export control measures and “enforced” biased policies against China.

“Resorting to trade levy ultimatums is not the proper method to interact with Beijing,” the spokesperson stated.

“The nation’s view” on a tariff war has consistently been unchanging: we are not seeking one, but we are not afraid of one.”

Recently, the Chinese government announced it was tightening foreign shipment restrictions on key elements and further resources vital for cutting-edge industry.

The action was viewed as a significant step, as the state processes about 90% of the global rare earth supply, which are employed in products such as photovoltaic modules and smartphones.

The recent comments from both governments are being viewed by observers as a strategy of strengthening positions ahead of forthcoming discussions.

It is unclear whether a meeting between Donald Trump and Xi Jinping, scheduled at a summit in South Korea in the coming weeks, will still proceed.