🔗 Share this article

Donald Trump’s latest threat to introduce an extra complete levy on products from China has been called a “typical example” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry additionally remarked that China could introduce its own unrevealed “retaliatory steps” if the White House occupant executes his pledge, adding that the country was “fearless” of a looming commercial battle.

On Friday, Donald Trump hit back at Beijing’s move to strengthen its policies for exports of rare earth minerals, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “captive”.

He also threatened to cancel a planned talks with China’s President Xi Jinping, which was set for a meeting in Seoul in the coming weeks.

Trump’s comments on last Friday unsettled financial markets, with the benchmark US stock index dropping 2.7%, marking its biggest drop since last spring.

The president’s words renewed concerns of a trade war between the two economic giants.

Earlier this year, the respective governments had consented to remove high import duties on each other’s products, which had created the possibility of commerce ceasing between the economic powers.

This left, American import duties on Chinese imports subject to an extra 30% levy compared with the start of the year, while items from the United States entering China face a 10% tariff.

China’s latest remarks – issued by the Commerce Ministry in the format of formal replies to journalist’s questions – echoed terminology from the zenith of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while supporting Beijing’s export controls on rare earths as “standard procedures” to safeguard domestic safety and that of every country.

Their representative remarked that for “an extended period”, the United States had “overstretched the concept of domestic safety, exploited overseas sale restrictions and “implemented” discriminatory practices against China.

“Using” trade levy ultimatums is not the right way to interact with the Chinese government,” the spokesperson stated.

“The nation’s view” on a import duty dispute has always been unchanging: we wish to avoid one, but we are unafraid of one.”

Recently, the Chinese government revealed it was tightening export controls on rare earth minerals and further resources vital for high-technology production.

This move was regarded as a important measure, as the nation refines about 90% of the world’s rare earths, which are employed in products such as photovoltaic modules and mobile phones.

The recent comments from the US and China are being viewed by observers as a means of strengthening positions in preparation for forthcoming discussions.

Remains uncertain whether a talks between Donald Trump and President Xi, scheduled at a conference in the Republic of Korea in the coming weeks, will go ahead.