🔗 Share this article

Trump’s most recent ultimatum to introduce an additional 100% tariff on Chinese goods has been described as a “prime illustration” of American hypocrisy, per the Beijing administration.

A official from China’s Commerce Ministry also stated that Beijing could implement its own unrevealed “countermeasures” if the American leader carries out his threat, emphasizing that the country was “fearless” of a possible trade war.

Last Friday, Donald Trump responded at the Chinese government’s action to reinforce its regulations for overseas sales of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Additionally, he warned to withdraw from a arranged meeting with China’s President President Xi, which was expected to take place during a conference in Seoul later this month.

The former president’s remarks on Friday shook financial markets, with the S&P 500 dropping 2.7%, marking its biggest drop since last spring.

His comments reignited fears of a commercial dispute between the United States and China.

This past spring, the both nations had consented to eliminate high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the economic powers.

This left, United States levies on Chinese imports subject to an extra 30% levy compared with the start of the year, while US goods entering China incur a import levy.

The most recent comments from China – issued by the relevant government department in the format of written responses to press queries – reflected terminology from the height of the ongoing trade dispute.

Officials denounced US export restrictions on chips and semi-conductors while defending the country’s own export controls on rare earths as “routine measures” to ensure national security and that of all nations.

Their representative stated that for “many years”, the US had “broadened the definition” of state security, abused foreign shipment regulations and “implemented” biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the proper method to interact with China,” the spokesperson commented.

“Beijing’s stance” on a tariff war has always been steady: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing revealed it was reinforcing export controls on rare earths and additional substances vital for advanced tech manufacturing.

This move was regarded as a significant step, as the nation processes about 90% of the world’s rare earths, which are employed in items such as photovoltaic modules and smartphones.

New remarks from Washington and Beijing are being seen by analysts as a method of enhancing bargaining power in preparation for upcoming negotiations.

It is unclear whether a summit between Trump and Xi Jinping, scheduled at a summit in the Republic of Korea later this month, will still proceed.