China Accuses US of ‘Double Standards’ Over Tariff Threat

China’s government has condemned former President Donald Trump’s recent threat to impose an additional 100% tariff on Chinese goods as “a typical example of US double standards.”

A spokesperson from China’s Commerce Ministry warned that if the US follows through with the threat, China may respond with unspecified “countermeasures,” adding that it is “not afraid” of a potential trade war.

The warning came after Trump criticized China’s tightened export controls on rare earth minerals, accusing Beijing of becoming “very hostile” and attempting to hold the world “captive.” He also threatened to cancel a planned meeting with Chinese President Xi Jinping later this month.

Trump’s comments on Friday sent shockwaves through financial markets, causing the S&P 500 to drop 2.7%, its largest decline since April, and reigniting fears of a renewed US-China trade conflict.

Earlier this year in May, both countries agreed to roll back some triple-digit tariffs that had threatened to halt trade between them. However, US tariffs on Chinese imports still remain at around 30% higher than at the start of the year, while China imposes a 10% tariff on US goods.

China’s Commerce Ministry responded with strong criticism of US export restrictions on chips and semiconductors, defending its own export controls on rare earths as legitimate measures to protect national security.

The spokesperson accused the US of “overstretching the concept of national security,” abusing export controls, and applying discriminatory practices against China.

“Resorting to tariff threats is not the right way to engage with China,” the official said.
“China’s stance on a trade war has been clear: we do not want one, but we are not afraid of one.”

China recently tightened export regulations on rare earths and other crucial materials used in advanced technologies such as solar panels and smartphones. As the dominant global supplier, controlling about 90% of rare earth processing, this move is seen as a strategic step in the trade dispute.

Observers suggest that the recent exchange of statements may be efforts by both sides to strengthen their negotiating positions ahead of future talks.

It remains uncertain whether the expected meeting between Trump and Xi Jinping at the upcoming summit in South Korea will proceed as planned.