🔗 Share this article

Donald Trump’s most recent threat to impose an additional 100% tariff on Chinese goods has been described as a “typical example” of American hypocrisy, according to the Beijing administration.

A representative of the ministry further commented that China could enact its own undisclosed “responsive actions” if the US President executes his threat, adding that the country was “fearless” of a possible trade conflict.

This past Friday, Trump hit back at the Chinese government’s action to reinforce its rules for overseas sales of rare earth minerals, charging China of “turning aggressive” and attempting to hold the international market “hostage”.

He also threatened to withdraw from a planned summit with Chinese leader Xi Jinping, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on Friday unsettled financial markets, with the benchmark US stock index closing down 2.7%, marking its largest decline since last spring.

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

This past spring, the both nations had reached an agreement to drop triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the two nations.

This left, US tariffs on Chinese goods subject to an extra 30% levy compared with the start of the year, while American products entering the country are subject to a 10% tariff.

The most recent comments from China – published by the Ministry of Commerce in the form of formal replies to press queries – mirrored language from the peak of the ongoing trade dispute.

They criticised United States controls on electronic components while supporting China’s own overseas sale regulations on key elements as “normal actions” to protect national security and that of every country.

Their representative stated that for “an extended period”, the United States had “expanded the interpretation” of national security, abused foreign shipment regulations and “enforced” discriminatory practices against Beijing.

“Resorting to trade levy ultimatums is not the right way to engage with China,” the spokesperson commented.

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

Last week, China announced it was strengthening overseas sale regulations on rare earth minerals and further resources vital for cutting-edge industry.

The action was viewed as a key move, as the nation processes about 90% of the planet’s critical minerals, which are used in items such as renewable energy components and mobile phones.

The recent comments from the US and China are being seen by some as a strategy of strengthening positions prior to forthcoming discussions.

Remains uncertain whether a meeting between Donald Trump and Xi Jinping, planned at a high-level meeting in South Korea later this month, will take place as planned.