🔗 Share this article

The former US president’s newest ultimatum to enforce an additional 100% tariff on Chinese goods has been called a “classic case” of American hypocrisy, according to the Chinese government.

A Commerce Ministry spokesperson additionally remarked that Beijing could enact its own unspecified “responsive actions” if the US President follows through on his threat, emphasizing that the country was “unafraid” of a looming commercial battle.

Last Friday, the former president responded at China’s decision to tighten its rules for exports of critical elements, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he threatened to withdraw from a scheduled summit with Chinese leader President Xi, which was expected to take place during a meeting in Seoul later this month.

His statements on last Friday shook stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its largest decline since April.

His comments revived concerns of a commercial dispute between the US and China.

Earlier this year, the two sides had agreed to eliminate significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

Consequently, US tariffs on Chinese goods facing an additional 30% levy compared with the start of the year, while US goods 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 journalist’s questions – mirrored terminology from the zenith of the ongoing trade dispute.

The remarks condemned American limits on exports on chips and semi-conductors while supporting the country’s own restrictions on exports on rare earths as “routine measures” to protect national security and that of all nations.

Their representative said that for “many years”, the US had “overstretched the concept of domestic safety, exploited foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Using” tariff threats is not the correct approach to deal with the Chinese government,” the spokesperson said.

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

The previous week, the Chinese government declared it was tightening overseas sale regulations on rare earth minerals and additional substances vital for high-technology production.

This move was regarded as a significant step, as the state handles about 90% of the planet’s critical minerals, which are used in goods such as solar panels and smartphones.

New remarks from the US and China are being seen by analysts as a means of strengthening positions ahead of future trade talks.

Remains uncertain whether a talks between the former president and China’s leader, scheduled at a conference in South Korea before month’s end, will go ahead.