🔗 Share this article

Donald Trump’s latest ultimatum to impose an additional complete levy on items imported from China has been called a “classic case” of American hypocrisy, per the Beijing administration.

A Commerce Ministry spokesperson also stated that the nation could implement its own unrevealed “countermeasures” if the American leader carries out his threat, adding that the country was “not afraid” of a looming commercial battle.

On Friday, the former president hit back at the Chinese government’s action to strengthen its rules for foreign shipments of rare earths, charging Beijing of “turning aggressive” and attempting to hold the world “hostage”.

He also vowed to withdraw from a scheduled talks with Chinese leader President Xi, which was arranged for a conference in Seoul later this month.

His statements on Friday shook global markets, with the S&P 500 dropping over two and a half percent, marking its largest decline since earlier this year.

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

This past spring, the two sides had agreed to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.

Consequently, United States levies on Chinese goods subject to an additional import tax compared with the start of the year, while US goods entering the country incur a import levy.

China’s latest remarks – released by the Commerce Ministry in the form of official answers to media inquiries – echoed language from the zenith of the recent trade conflict.

They criticised American limits on exports on electronic components while justifying the country’s own overseas sale regulations on rare earth minerals as “standard procedures” to safeguard state interests and that of every country.

The official remarked that for “many years”, the US had “broadened the definition” of state security, misused export control measures and “adopted biased policies against Beijing.

“Using” import duty warnings is not the proper method to deal with the Chinese government,” the official stated.

“The nation’s view” on a import duty dispute has consistently been steady: we do not want one, but we are unafraid of one.”

The previous week, China revealed it was tightening foreign shipment restrictions on key elements and further resources essential to advanced tech manufacturing.

This move was regarded as a key move, as the nation refines about 90% of the world’s rare earths, which are employed in goods such as solar panels and mobile phones.

The recent comments from the US and China are being seen by some as a strategy of strengthening positions ahead of upcoming negotiations.

It is unclear whether a meeting between Trump and President Xi, scheduled at a summit in South Korea before month’s end, will take place as planned.