🔗 Share this article

The former US president’s newest warning to impose an additional complete levy on items imported from China has been labeled a “prime illustration” of American hypocrisy, according to the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could introduce its own unrevealed “retaliatory steps” if the American leader carries out his warning, adding that the country was “fearless” of a potential commercial battle.

On Friday, the former president hit back at China’s decision to strengthen its rules for overseas sales of critical elements, alleging China of “becoming very hostile” and attempting to hold the international market “under its control”.

Furthermore, he warned to cancel a arranged talks with China’s President President Xi, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

His statements on last Friday unsettled stock exchanges, with the S&P 500 share index dropping nearly three percent, marking its steepest fall since earlier this year.

These statements renewed apprehensions of a trade conflict between the US and China.

In May, the both nations had reached an agreement to drop significant levies on each other’s goods, which had created the possibility of trade halting between the two countries.

Consequently, American import duties on Chinese goods incurring an extra import tax compared with the year’s onset, while American products entering the country incur a import levy.

The most recent comments from China – issued by the Ministry of Commerce in the manner of formal replies to press queries – reflected terminology from the peak of the ongoing trade dispute.

They criticised United States controls on electronic components while defending the country’s own restrictions on exports on rare earth minerals as “normal actions” to protect state interests and that of the global community.

Their representative remarked that for “a long time”, the United States had “broadened the definition” of state security, abused foreign shipment regulations and “implemented” discriminatory practices against the Chinese nation.

“Resorting to tariff threats is not the right way to engage with China,” the official commented.

“Beijing’s stance” on a trade conflict has consistently been steady: we are not seeking one, but we are unafraid of one.”

Recently, the Chinese government declared it was reinforcing export controls on rare earths and further resources critical for advanced tech manufacturing.

This move was regarded as a significant step, as the nation handles about the vast majority of the world’s rare earths, which are used in items such as photovoltaic modules and smartphones.

The recent comments from both governments are being viewed by some as a strategy of bolstering negotiating stances ahead of upcoming negotiations.

Remains uncertain whether a summit between the former president and China’s leader, expected at a high-level meeting in Seoul later this month, will still proceed.