🔗 Share this article

Trump’s newest ultimatum to enforce an extra 100% tariff on Chinese goods has been called a “prime illustration” of American hypocrisy, as stated by the China’s leadership.

A official from China’s Commerce Ministry further commented that Beijing could enact its own unspecified “countermeasures” if the American leader executes his warning, emphasizing that the country was “fearless” of a looming commercial battle.

This past Friday, Trump hit back at the Chinese government’s action to reinforce its rules for overseas sales of rare earths, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Furthermore, he warned to withdraw from a scheduled meeting with China’s President President Xi, which was arranged for a summit in the Republic of Korea before the month ends.

His statements on Friday rattled stock exchanges, with the S&P 500 falling by 2.7%, marking its steepest fall since April.

These statements reignited fears of a trade war between the United States and China.

Earlier this year, the respective governments had consented to drop triple-digit tariffs on each other’s imports, which had led to concerns of bilateral trade stopping between the two nations.

Consequently, American import duties on products from China subject to an added thirty percent tariff compared with the start of the year, while American products entering the country incur a import levy.

The most recent comments from China – released by the relevant government department in the manner of written responses to media inquiries – mirrored rhetoric from the peak of the recent trade conflict.

Officials denounced US export restrictions on semiconductors and chips while justifying China’s own overseas sale regulations on rare earths as “standard procedures” to protect domestic safety and that of the global community.

The official remarked that for “an extended period”, the America had “expanded the interpretation” of national security, exploited export control measures and “enforced” discriminatory practices against Beijing.

“Resorting to trade levy ultimatums is not the proper method to interact with China,” their representative commented.

“Beijing’s stance” on a trade conflict has always been consistent: we are not seeking one, but we are fearless of one.”

Last week, China announced it was strengthening overseas sale regulations on rare earth minerals and further resources critical for advanced tech manufacturing.

The action was viewed as a significant step, as the nation handles about 90% of the world’s rare earths, which are utilized in goods such as photovoltaic modules and handheld devices.

The recent comments from the US and China are being viewed by some as a strategy of bolstering negotiating stances in preparation for forthcoming discussions.

Remains uncertain whether a meeting between Trump and Xi Jinping, expected at a summit in the Republic of Korea later this month, will still proceed.