🔗 Share this article

Donald Trump’s latest ultimatum to introduce an additional complete levy on Chinese goods has been called a “classic case” of American hypocrisy, as stated by the Chinese government.

A official from China’s Commerce Ministry further commented that the nation could introduce its own undisclosed “responsive actions” if the US President follows through on his threat, emphasizing that the country was “not afraid” of a possible trade war.

On Friday, Donald Trump responded at the Chinese government’s action to reinforce its regulations for exports of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

He also vowed to withdraw from a scheduled meeting with China’s President Xi, which was arranged for a summit in Seoul before the month ends.

The former president’s remarks on Friday shook global markets, with the S&P 500 closing down over two and a half percent, marking its biggest drop since April.

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

This past spring, the both nations had consented to eliminate high import duties on each other’s products, which had created the possibility of bilateral trade stopping between the economic powers.

As a result, American import duties on products from China facing an extra import tax compared with the year’s onset, while American products entering China face a 10% tariff.

Beijing’s recent statements – issued by the relevant government department in the format of formal replies to press queries – echoed terminology from the zenith of the ongoing trade dispute.

They criticised US export restrictions on chips and semi-conductors while supporting China’s own export controls on key elements as “standard procedures” to safeguard state interests and that of every country.

The spokesperson said that for “a long time”, the US had “broadened the definition” of national security, exploited overseas sale restrictions and “adopted discriminatory practices against China.

“Turning to” trade levy ultimatums is not the right way to deal with China,” the spokesperson said.

“The nation’s view” on a trade conflict has consistently been consistent: we wish to avoid one, but we are unafraid of one.”

Recently, China announced it was tightening export controls on rare earth minerals and other materials critical for high-technology production.

The action was viewed as a important measure, as the state refines about ninety percent of the global rare earth supply, which are employed in goods such as renewable energy components and mobile phones.

New remarks from both governments are being interpreted by observers as a means of enhancing bargaining power prior to upcoming negotiations.

It is unclear whether a meeting between Donald Trump and China’s leader, scheduled at a high-level meeting in Seoul before month’s end, will take place as planned.