🔗 Share this article

The former US president’s newest threat to introduce an further 100% tariff on products from China has been described as a “typical example” of US double standards, as stated by the Beijing administration.

A Commerce Ministry spokesperson further commented that the nation could implement its own undisclosed “countermeasures” if the White House occupant executes his threat, emphasizing that the country was “unafraid” of a potential commercial battle.

Last Friday, the former president retaliated at Beijing’s move to strengthen its policies for foreign shipments of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Additionally, he threatened to withdraw from a arranged summit with China’s President Xi Jinping, which was arranged for a conference in Seoul later this month.

Trump’s comments on that day shook global markets, with the S&P 500 falling by 2.7%, marking its largest decline since earlier this year.

These statements reignited fears of a commercial dispute between the United States and China.

This past spring, the respective governments had consented to remove triple-digit tariffs on each other’s imports, which had raised the prospect of trade halting between the economic powers.

Consequently, American import duties on Chinese imports subject to an additional import tax compared with the start of the year, while US goods entering the Chinese market face a 10% tariff.

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

Officials denounced American limits on exports on electronic components while defending the country’s own restrictions on exports on rare earth minerals as “standard procedures” to ensure domestic safety and that of all nations.

The spokesperson stated that for “an extended period”, the US had “broadened the definition” of state security, abused foreign shipment regulations and “adopted discriminatory practices against Beijing.

“Turning to” trade levy ultimatums is not the correct approach to engage with China,” the official said.

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

Recently, the Chinese government declared it was strengthening export controls on rare earths and additional substances critical for cutting-edge industry.

The action was viewed as a significant step, as the nation processes about 90% of the planet’s critical minerals, which are used in items such as solar panels and mobile phones.

Latest statements from both governments are being viewed by observers as a strategy of enhancing bargaining power ahead of forthcoming discussions.

Is not yet known whether a meeting between the former president and Xi Jinping, expected at a summit in South Korea later this month, will still proceed.