🔗 Share this article

The former US president’s most recent warning to impose an further full import duty on Chinese goods has been described as a “classic case” of American hypocrisy, according to the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that the nation could introduce its own unrevealed “responsive actions” if the White House occupant executes his warning, emphasizing that the country was “not afraid” of a possible trade war.

This past Friday, the former president retaliated at Beijing’s move to strengthen its regulations for foreign shipments of rare earths, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the world “under its control”.

He also warned to withdraw from a planned talks with Beijing’s head of state Xi Jinping, which was arranged for a summit in Seoul before the month ends.

The former president’s remarks on last Friday shook financial markets, with the benchmark US stock index closing down nearly three percent, marking its biggest drop since April.

His comments renewed fears of a trade conflict between the US and China.

Earlier this year, the two sides had agreed to remove triple-digit tariffs on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

This left, American import duties on products from China facing an added import tax compared with the start of the year, while American products entering China incur a 10% tariff.

Beijing’s recent statements – released by the Commerce Ministry in the format of written responses to media inquiries – echoed rhetoric from the peak of the latest commercial tensions.

Officials denounced US export restrictions on semiconductors and chips while defending Beijing’s export controls on rare earths as “routine measures” to safeguard state interests and that of the global community.

The official remarked that for “a long time”, the America had “expanded the interpretation” of national security, abused export control measures and “implemented” discriminatory practices against China.

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

“China’s position on a tariff war has remained unchanging: we are not seeking one, but we are not afraid of one.”

Last week, the Chinese government revealed it was tightening export controls on rare earth minerals and further resources essential to advanced tech manufacturing.

This was seen as a key move, as the nation handles about 90% of the planet’s critical minerals, which are utilized in goods such as renewable energy components and smartphones.

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

Is not yet known whether a talks between Donald Trump and Xi Jinping, planned at a conference in Seoul before month’s end, will still proceed.