🔗 Share this article

Donald Trump’s latest threat to impose an further full import duty on products from China has been described as a “prime illustration” of American hypocrisy, as stated by the China’s leadership.

A Commerce Ministry spokesperson also stated that China could implement its own undisclosed “responsive actions” if the White House occupant carries out his warning, noting that the country was “fearless” of a looming commercial battle.

Last Friday, Donald Trump hit back at the Chinese government’s action to tighten its policies for foreign shipments of rare earths, accusing Beijing of “becoming very hostile” and attempting to hold the global community “under its control”.

Furthermore, he warned to cancel a scheduled talks with China’s President Xi, which was set for a summit in the Republic of Korea before the month ends.

His statements on Friday shook stock exchanges, with the S&P 500 share index dropping nearly three percent, marking its steepest fall since last spring.

His comments revived fears of a trade war between the two economic giants.

Earlier this year, the respective governments had agreed to drop triple-digit tariffs on each other’s goods, which had led to concerns of trade halting between the two countries.

Consequently, American import duties on Chinese goods facing an extra 30% levy compared with the start of the year, while US goods entering the country incur a import levy.

The most recent comments from China – released by the Ministry of Commerce in the manner of official answers to press queries – reflected rhetoric from the peak of the recent trade conflict.

Officials denounced United States controls on chips and semi-conductors while defending Beijing’s overseas sale regulations on key elements as “standard procedures” to safeguard domestic safety and that of all nations.

The official said that for “many years”, the America had “broadened the definition” of state security, misused export control measures and “implemented” discriminatory practices against the Chinese nation.

“Resorting to tariff threats is not the right way to deal with China,” the spokesperson said.

“China’s position on a trade conflict has always been unchanging: we do not want one, but we are not afraid of one.”

Last week, the Chinese government declared it was reinforcing foreign shipment restrictions on rare earth minerals and other materials critical for advanced tech manufacturing.

This move was regarded as a significant step, as the nation handles about ninety percent of the global rare earth supply, which are used in products such as photovoltaic modules and mobile phones.

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

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