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 stated that China could introduce its own unspecified countermeasures if the US President carries out his threat, adding it was not afraid of a possible trade war.
On Friday, Trump retaliated against Beijing's tighter export controls on rare earths, accusing China of becoming very hostile and trying to hold the world captive. He also suggested pulling out of a planned meeting with China's President Xi Jinping later this month.
Trump's remarks rattled financial markets, causing the S&P 500 index to close down 2.7%, marking its largest drop since April. These comments have reignited fears of a looming trade war, reminiscent of tensions prior to previously agreed tariff reductions.
China's latest comments characterized U.S. export restrictions on chips and semiconductors as discriminatory practices. Emphasizing its own export controls on vital materials as normal actions for national security, China accused the U.S. of inflating the concept of security and abusing export controls.
As the dialogue continues, it remains uncertain whether the anticipated summit between Trump and Xi will proceed as planned.
