🔗 Share this article

Trump’s newest threat to impose an extra complete levy on items imported from China has been described as a “classic case” of United States’ contradictory behavior, as stated by the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that the nation could introduce its own undisclosed “retaliatory steps” if the White House occupant executes his threat, adding that the country was “not afraid” of a looming trade war.

On Friday, the former president retaliated at Beijing’s move to reinforce its regulations for foreign shipments of rare earth minerals, alleging China of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Additionally, he warned to withdraw from a scheduled summit with Beijing’s head of state President Xi, which was arranged for a summit in Seoul later this month.

His statements on last Friday unsettled financial markets, with the S&P 500 falling by 2.7%, marking its biggest drop since April.

His comments reignited concerns of a trade war between the two economic giants.

In May, the two sides had consented to drop significant levies on each other’s imports, which had created the possibility of commerce ceasing between the economic powers.

As a result, United States levies on Chinese goods incurring an added thirty percent tariff compared with the year’s onset, while US goods entering China face a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of written responses to media inquiries – mirrored terminology from the peak of the latest commercial tensions.

They criticised US export restrictions on electronic components while defending China’s own export controls on key elements as “routine measures” to safeguard domestic safety and that of all nations.

The official stated that for “many years”, the United States had “overstretched the concept of state security, misused export control measures and “adopted discriminatory practices against China.

“Resorting to tariff threats is not the correct approach to interact with Beijing,” their representative commented.

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

Last week, Beijing announced it was reinforcing foreign shipment restrictions on rare earth minerals and further resources critical for advanced tech manufacturing.

This move was regarded as a important measure, as the nation refines about ninety percent of the planet’s critical minerals, which are used in items such as photovoltaic modules and mobile phones.

Latest statements from the US and China are being interpreted by observers as a method of bolstering negotiating stances prior to forthcoming discussions.

It is unclear whether a talks between the former president and President Xi, planned at a high-level meeting in South Korea in the coming weeks, will take place as planned.