China has accused U.S. President Donald Trump of hypocrisy after he threatened to impose a 100% tariff on Chinese goods, calling the move “a textbook case of American double standards.”
Beijing’s commerce ministry warned that it could retaliate with “firm countermeasures,” saying China “does not want a trade war, but is not afraid of one.”
The warning came after Trump lashed out at China for tightening export rules on rare earth minerals—materials critical to global tech manufacturing—accusing Beijing of trying to “hold the world captive.” He also hinted he might cancel a planned meeting with President Xi Jinping later this month, deepening uncertainty around already fragile trade relations.
Markets reacted sharply: the S&P 500 posted its biggest drop since April, while Chinese and Hong Kong indexes fell more than 2%. Trump later sought to calm nerves, posting online that “it will all be fine,” describing Xi as “highly respected” and insisting the U.S. “wants to help China, not hurt it.”
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In its response, China accused Washington of abusing export controls and stretching the concept of national security to justify discriminatory trade practices. “Resorting to tariff threats is not the right way to engage with China,” a commerce ministry spokesperson said.
Beijing’s latest export curbs—covering materials vital for semiconductors and clean energy—have been interpreted as a strategic counter to U.S. restrictions on advanced chip sales to Chinese firms. With both sides escalating rhetoric, analysts say the exchange may be part of a wider effort to harden negotiating positions ahead of a possible Trump–Xi meeting in South Korea later this month.