🔗 Share this article

The former US president’s most recent threat to enforce an extra complete levy on Chinese goods has been described as a “typical example” of United States’ contradictory behavior, per the China’s leadership.

A Commerce Ministry spokesperson also stated that China could enact its own unspecified “countermeasures” if the White House occupant executes his warning, adding that the country was “not afraid” of a possible trade war.

This past Friday, the former president hit back at the Chinese government’s action to reinforce its regulations for foreign shipments of rare earth minerals, charging Beijing of “becoming very hostile” and attempting to hold the world “captive”.

Additionally, he threatened to cancel a planned meeting with Chinese leader Xi, which was expected to take place during a summit in Seoul later this month.

The former president’s remarks on last Friday unsettled stock exchanges, with the benchmark US stock index closing down nearly three percent, marking its biggest drop since earlier this year.

His comments renewed apprehensions of a trade war between the two economic giants.

This past spring, the both nations had reached an agreement to remove significant levies on each other’s products, which had raised the prospect of trade halting between the two countries.

As a result, American import duties on Chinese imports subject to an additional import tax compared with the year’s onset, while US goods entering the Chinese market are subject to a 10% tariff.

China’s latest remarks – issued by the Ministry of Commerce in the manner of formal replies to media inquiries – reflected terminology from the height of the latest commercial tensions.

The remarks condemned US export restrictions on chips and semi-conductors while justifying Beijing’s restrictions on exports on rare earth minerals as “standard procedures” to safeguard domestic safety and that of all nations.

Their representative stated that for “many years”, the America had “expanded the interpretation” of state security, exploited export control measures and “enforced” biased policies against Beijing.

“Resorting to tariff threats is not the correct approach to engage with Beijing,” the official stated.

“Beijing’s stance” on a trade conflict has consistently been steady: we wish to avoid one, but we are fearless of one.”

Last week, Beijing revealed it was tightening overseas sale regulations on key elements and other materials vital for cutting-edge industry.

This move was regarded as a important measure, as the country processes about 90% of the planet’s critical minerals, which are employed in goods such as solar panels and smartphones.

The recent comments from the US and China are being viewed by observers as a strategy of strengthening positions in preparation for future trade talks.

Remains uncertain whether a talks between the former president and Xi Jinping, expected at a conference in Seoul in the coming weeks, will go ahead.