🔗 Share this article

Trump’s most recent ultimatum to enforce an additional full import duty on products from China has been called a “classic case” of American hypocrisy, as stated by the China’s leadership.

A Commerce Ministry spokesperson also stated that the nation could implement its own unspecified “retaliatory steps” if the US President carries out his threat, noting that the country was “fearless” of a possible trade conflict.

This past Friday, Donald Trump hit back at China’s decision to strengthen its regulations for overseas sales of rare earth minerals, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

He also threatened to withdraw from a scheduled summit with Chinese leader Xi, which was arranged for a summit in South Korea later this month.

The former president’s remarks on that day shook financial markets, with the benchmark US stock index dropping 2.7%, marking its biggest drop since last spring.

His comments revived apprehensions of a commercial dispute between the United States and China.

This past spring, the two sides had consented to remove high import duties on each other’s products, which had raised the prospect of commerce ceasing between the two countries.

This left, United States levies on products from China facing an added 30% levy compared with the start of the year, while items from the United States entering China incur a import levy.

Beijing’s recent statements – published by the Commerce Ministry in the format of official answers to media inquiries – echoed language from the height of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own overseas sale regulations on rare earth minerals as “routine measures” to ensure domestic safety and that of every country.

The official said that for “many years”, the US had “overstretched the concept of national security, exploited overseas sale restrictions and “adopted biased policies against Beijing.

“Using” trade levy ultimatums is not the right way to interact with Beijing,” the official said.

“Beijing’s stance” on a import duty dispute has always been consistent: we do not want one, but we are fearless of one.”

Last week, the Chinese government declared it was strengthening overseas sale regulations on rare earths and further resources critical for cutting-edge industry.

The action was viewed as a significant step, as the country processes about ninety percent of the global rare earth supply, which are employed in products such as renewable energy components and smartphones.

New remarks from both governments are being viewed by some as a strategy of strengthening positions ahead of upcoming negotiations.

It is unclear whether a talks between the former president and China’s leader, scheduled at a high-level meeting in Seoul in the coming weeks, will still proceed.