🔗 Share this article

Donald Trump’s newest warning to introduce an further full import duty on Chinese goods has been described as a “classic case” of American hypocrisy, according to the Chinese government.

A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unspecified “responsive actions” if the American leader executes his pledge, adding that the country was “not afraid” of a possible trade war.

On Friday, the former president hit back at China’s decision to tighten its policies for overseas sales of rare earths, accusing Beijing of “turning aggressive” and attempting to hold the international market “captive”.

Additionally, he threatened to pull out of a arranged summit with Chinese leader President Xi, which was expected to take place during a conference in the Republic of Korea before the month ends.

The former president’s remarks on Friday unsettled global markets, with the S&P 500 falling by over two and a half percent, marking its largest decline since last spring.

These statements revived apprehensions of a commercial dispute between the United States and China.

In May, the two sides had consented to remove triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the economic powers.

As a result, American import duties on Chinese goods subject to an added import tax compared with the start of the year, while items from the United States entering the country are subject to a import levy.

Beijing’s recent statements – published by the relevant government department in the manner of official answers to journalist’s questions – mirrored language from the peak of the ongoing trade dispute.

They criticised US export restrictions on semiconductors and chips while justifying the country’s own overseas sale regulations on rare earth minerals as “routine measures” to protect national security and that of the global community.

Their representative said that for “many years”, the America had “expanded the interpretation” of domestic safety, misused foreign shipment regulations and “adopted discriminatory practices against China.

“Turning to” tariff threats is not the right way to deal with Beijing,” the spokesperson commented.

“The nation’s view” on a trade conflict has remained steady: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government declared it was tightening foreign shipment restrictions on rare earth minerals and additional substances essential to high-technology production.

This move was regarded as a key move, as the state handles about the vast majority of the world’s rare earths, which are employed in goods such as renewable energy components and smartphones.

New remarks from Washington and Beijing are being seen by analysts as a means of bolstering negotiating stances in preparation for upcoming negotiations.

It is unclear whether a summit between Donald Trump and President Xi, expected at a summit in South Korea later this month, will go ahead.