A spokesperson for China’s Ministry of Commerce accused the U.S. of a “textbook double standard” with Trump’s promise on Friday to tack on additional 100% tariffs on those imports after China imposed new export controls on rare earths minerals. That promise in a social media post by the president shook U.S. stock marketson Friday, erasing $2 trillion in equity values in a single day.
Willful threats of high tariffs are not the right way to get along with China,” the ministry spokesperson said. “China’s position on the trade war is consistent: we do not want it, but we are not afraid of it,” they added.
