Donald Trump's latest threat to impose an additional 100% tariff on Chinese goods is a typical example of US double standards, China's government has said.
A Commerce Ministry spokesperson also mentioned that China could introduce its own unspecified countermeasures if the US President acts on his threat, asserting that it was not afraid of a possible trade war.
On Friday, Trump retaliated against Beijing's tightening of export rules for rare earths, accusing China of becoming very hostile and attempting to hold the world captive.
He even threatened to withdraw from a scheduled meeting with China's President Xi Jinping later this month.
Trump's latest comments rattled financial markets, causing the S&P 500 share index to close down 2.7%, marking its steepest decline since April.
The president’s statements rekindled fears of a trade war between the US and China following a previous agreement in May to alleviate triple-digit tariffs on goods from both countries.
US tariffs on Chinese imports have seen an increased 30% levy compared with the year's start, while US exports to China face a 10% tariff.
China’s remarks—their written response to media queries—echoed rhetoric used during the peak of earlier trade disputes. The spokesperson criticized US restrictions on semiconductor exports while defending China's rare earth export controls as measures necessary for national security.
They asserted that the US had overstretched national security concepts and abused export controls while highlighting that tariff threats are not a suitable engagement method with China.
China's long-standing stance remains: it does not desire a tariff war but is not intimidated by one.
China also recently announced tighter controls on rare earth exports and materials requisite for advanced tech production, highlighting its significant global processing capacity of these resources.
The recent exchanges between Washington and Beijing seem to serve both parties as a means to fortify positions ahead of impending trade discussions. Uncertainty looms regarding the anticipated meeting between Trump and Xi at a summit in South Korea later this month.