China has accused the United States of âdouble standardsâ after President Donald Trump threatened to impose an additional 100% tariff on Chinese goods, warning that Beijing could respond with its own countermeasures.
A spokesperson for Chinaâs Commerce Ministry said the country was ânot afraidâ of a possible trade war and would take ânecessary actionsâ if Washington followed through on its threat.
âResorting to tariff threats is not the right way to engage with China,â the spokesperson said, accusing the US of âabusing export control measuresâ and âadopting discriminatory practicesâ against Chinese companies.
Trumpâs remarks on Friday came after Beijing announced new restrictions on exports of rare earth materials essential to global tech production. In response, the US President accused China of becoming âvery hostileâ and threatened to withdraw from an upcoming meeting with President Xi Jinping.
The escalating rhetoric rattled global markets, with the S&P 500 falling 2.7%, its steepest drop since April. Analysts say the exchange could reignite trade tensions that had eased earlier this year after both countries agreed to roll back certain tariffs.
China defended its export curbs on rare earths, saying the measures were ânormal actionsâ to protect national security. It also criticised US restrictions on semiconductor exports, arguing that Washington had âoverstretched the concept of national securityâ for political gain.
âChinaâs position on a tariff war has always been consistent: we do not want one, but we are not afraid of one,â the spokesperson said.
The planned meeting between Trump and Xi expected to take place later this month in South Korea now appears uncertain, raising fresh concerns about renewed economic friction between the worldâs two largest economies.
Erizia Rubyjeana
