Trump’s newest warning to introduce an additional 100% tariff on items imported from China has been labeled a “classic case” of United States’ contradictory behavior, as stated by the Chinese government.
A official from China’s Commerce Ministry also stated that Beijing could enact its own unspecified “responsive actions” if the White House occupant carries out his warning, emphasizing that the country was “not afraid” of a possible trade conflict.
This past Friday, the former president responded at Beijing’s move to strengthen its rules for foreign shipments of critical elements, accusing China of “turning aggressive” and attempting to hold the international market “under its control”.
Furthermore, he vowed to withdraw from a scheduled talks with China’s President Xi Jinping, which was arranged for a conference in the Republic of Korea in the coming weeks.
Trump’s comments on Friday rattled financial markets, with the S&P 500 share index falling by 2.7%, marking its steepest fall since last spring.
These statements reignited concerns of a trade conflict between the US and China.
Earlier this year, the respective governments had reached an agreement to drop triple-digit tariffs on each other’s imports, which had created the possibility of commerce ceasing between the economic powers.
This left, US tariffs on Chinese goods subject to an additional import tax compared with the year’s onset, while US goods entering the Chinese market are subject to a ten percent duty.
Beijing’s recent statements – issued by the relevant government department in the manner of official answers to press queries – mirrored language from the zenith of the recent trade conflict.
Officials denounced American limits on exports on chips and semi-conductors while supporting Beijing’s restrictions on exports on key elements as “normal actions” to safeguard national security and that of the global community.
The official remarked that for “a long time”, the US had “expanded the interpretation” of domestic safety, exploited export control measures and “adopted biased policies against China.
“Using” trade levy ultimatums is not the correct approach to interact with Beijing,” their representative commented.
“The nation’s view” on a trade conflict has always been unchanging: we are not seeking one, but we are unafraid of one.”
The previous week, the Chinese government announced it was reinforcing foreign shipment restrictions on key elements and other materials critical for advanced tech manufacturing.
This move was regarded as a key move, as the country refines about the vast majority of the global rare earth supply, which are utilized in items such as solar panels and handheld devices.
New remarks from Washington and Beijing are being seen by analysts as a method of enhancing bargaining power in preparation for forthcoming discussions.
It is unclear whether a talks between the former president and President Xi, planned at a summit in the Republic of Korea before month’s end, will go ahead.
Elena Hartwell is a multidisciplinary artist and educator passionate about fostering creative communities in London.