Beijing has threatened to impose reciprocal tariffs on the United States to safeguard its own interests after the US President Donald Trump on Saturday announced a move to impose 100 per cent tariffs on China's imports.
China has accused Washington of “double standards” on Sunday after Trump threatened an additional 100 per cent on the world’s second-largest economy. The statement issued by a spokesperson for the Chinese Ministry of Commerce said on Sunday, "The relevant US statement is a typical example of 'double standards.”
"Should the US persist in its course, China will resolutely take corresponding measures to safeguard its legitimate rights and interests,” the statement said.
This strong-worded response came after Trump announced his plans to slap a 100 per cent tariff on Chinese goods and export controls on all critical software, starting November 1, in addition to existing 30 per cent tariffs.
In his Truth Social post on Saturday, Trump said he had learnt that China had taken an "extraordinarily aggressive position on trade in sending an extremely hostile letter to the world."
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Earlier on Friday, Beijing introduced new export regulations on rare earth minerals. China remains the world's largest supplier of the minerals that are critical for the tech industry, particularly for semiconductor chip making. Trump’s latest threats have raised the escalation bar between the two rival nations, creating further uncertainties in the global market.
Beijing justified its position on restricting exports, saying China's measures are necessary given the military applications of medium and heavy rare earth metals amid the "current turbulent global situation and frequent military conflicts".
According to US experts, China has long used rare earths, the minerals essential for electronic, automotive and defence systems, as strategic leverage against the US.
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