🔗 Share this article

The former US president’s most recent ultimatum to introduce an extra complete levy on items imported from China has been called a “classic case” of United States’ contradictory behavior, according to the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unspecified “countermeasures” if the American leader follows through on his warning, adding that the country was “unafraid” of a possible trade war.

This past Friday, Donald Trump hit back at the Chinese government’s action to strengthen its rules for overseas sales of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the global community “hostage”.

Furthermore, he warned to pull out of a planned summit with Chinese leader President Xi, which was expected to take place during a conference in Seoul before the month ends.

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

The president’s words renewed concerns of a trade conflict between the United States and China.

This past spring, the respective governments had reached an agreement to remove significant levies on each other’s goods, which had created the possibility of trade halting between the two nations.

Consequently, US tariffs on Chinese imports incurring an added 30% levy compared with the start of the year, while American products entering the country are subject to a 10% tariff.

China’s latest remarks – published by the relevant government department in the manner of official answers to media inquiries – mirrored rhetoric from the zenith of the ongoing trade dispute.

Officials denounced American limits on exports on semiconductors and chips while justifying Beijing’s export controls on rare earth minerals as “normal actions” to ensure domestic safety and that of every country.

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

“Turning to” import duty warnings is not the right way to interact with China,” the official said.

“China’s position on a tariff war has consistently been consistent: we do not want one, but we are unafraid of one.”

Recently, China revealed it was strengthening overseas sale regulations on key elements and other materials critical for advanced tech manufacturing.

This was seen as a significant step, as the nation refines about 90% of the world’s rare earths, which are used in products such as renewable energy components and mobile phones.

New remarks from the US and China are being interpreted by analysts as a means of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a summit between Donald Trump and Xi Jinping, planned at a conference in Seoul later this month, will take place as planned.