🔗 Share this article

The former US president’s latest warning to introduce an extra complete levy on products from China has been described as a “prime illustration” of US double standards, according to the China’s leadership.

A representative of the ministry also stated that the nation could enact its own unspecified “countermeasures” if the American leader carries out his warning, adding that the country was “not afraid” of a looming trade conflict.

This past Friday, the former president retaliated at China’s decision to tighten its regulations for exports of critical elements, alleging China of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he warned to withdraw from a arranged meeting with Chinese leader Xi Jinping, which was set for a summit in the Republic of Korea later this month.

His statements on that day unsettled stock exchanges, with the S&P 500 share index dropping over two and a half percent, marking its steepest fall since April.

His comments renewed fears of a trade war between the United States and China.

Earlier this year, the two sides had consented to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the economic powers.

Consequently, US tariffs on Chinese goods incurring an added thirty percent tariff compared with the start of the year, while American products entering the Chinese market face a import levy.

Beijing’s recent statements – published by the relevant government department in the form of official answers to media inquiries – reflected rhetoric from the zenith of the latest commercial tensions.

The remarks condemned United States controls on semiconductors and chips while defending the country’s own restrictions on exports on rare earths as “routine measures” to ensure state interests and that of all nations.

The spokesperson remarked that for “an extended period”, the United States had “broadened the definition” of national security, exploited foreign shipment regulations and “adopted discriminatory practices against the Chinese nation.

“Turning to” import duty warnings is not the proper method to engage with the Chinese government,” the official commented.

“Beijing’s stance” on a import duty dispute has consistently been unchanging: we are not seeking one, but we are not afraid of one.”

Recently, the Chinese government announced it was tightening export controls on rare earth minerals and other materials vital for cutting-edge industry.

This was seen as a important measure, as the country refines about 90% of the world’s rare earths, which are utilized in items such as photovoltaic modules and smartphones.

The recent comments from the US and China are being viewed by analysts as a method of strengthening positions prior to forthcoming discussions.

Is not yet known whether a meeting between the former president and President Xi, scheduled at a high-level meeting in South Korea in the coming weeks, will still proceed.