🔗 Share this article

Trump’s latest threat to impose an extra complete levy on Chinese goods has been described as a “prime illustration” of American hypocrisy, per the Beijing administration.

A representative of the ministry also stated that China could implement its own undisclosed “retaliatory steps” if the US President carries out his threat, noting that the country was “fearless” of a looming trade conflict.

This past Friday, the former president responded at the Chinese government’s action to tighten its policies for overseas sales of critical elements, accusing China of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he vowed to withdraw from a scheduled talks with China’s President President Xi, which was expected to take place during a meeting in the Republic of Korea in the coming weeks.

His statements on Friday unsettled stock exchanges, with the benchmark US stock index dropping over two and a half percent, marking its largest decline since April.

These statements renewed apprehensions of a trade conflict between the two economic giants.

This past spring, the two sides had reached an agreement to remove significant levies on each other’s imports, which had created the possibility of bilateral trade stopping between the two nations.

This left, United States levies on products from China facing an added thirty percent tariff compared with the year’s onset, while American products entering the Chinese market are subject to a import levy.

China’s latest remarks – issued by the relevant government department in the manner of formal replies to media inquiries – echoed rhetoric 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 key elements as “standard procedures” to ensure state interests and that of every country.

The official said that for “many years”, the America had “overstretched the concept of state security, misused export control measures and “enforced” unfair treatments against Beijing.

“Using” tariff threats is not the right way to engage with Beijing,” the spokesperson stated.

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

Last week, the Chinese government announced it was reinforcing export controls on key elements and other materials essential to high-technology production.

The action was viewed as a important measure, as the state refines about the vast majority of the world’s rare earths, which are employed in items such as renewable energy components and mobile phones.

Latest statements from the US and China are being viewed by observers as a method of bolstering negotiating stances prior to future trade talks.

It is unclear whether a talks between the former president and Xi Jinping, expected at a summit in Seoul before month’s end, will take place as planned.