China called US President Donald Trump's latest tariffs on Chinese goods hypocritical on Sunday and defended its curbs on exports of rare earth elements and equipment, but stopped short of imposing new levies on US products.

Trump on Friday responded to Beijing's most recent export controls by imposing additional tariffs of 100 percent on China's US-bound exports, along with new export controls on critical software by November 1.

The revived trade tensions have rattled Wall Street, sending Big Tech shares tumbling, worried foreign companies dependent on China's production of processed rare earths and rare earth magnets, and could derail a summit between Trump and President Xi Jinping tentatively scheduled for later this month.

The Chinese commerce ministry's statement on Sunday was Beijing's first direct response to Trump's lengthy Truth Social post on Friday, where he accused Beijing of suddenly raising trade tensions after an uneasy truce was reached six months ago between the world's two largest economies, allowing them to trade goods without sky-high tariff rates.

The commerce ministry said that its export controls on rare-earth elements followed a series of US measures since bilateral trade talks in Madrid last month. Beijing cited the addition of Chinese companies to a US trade blacklist and Washington's imposition of port fees on China-linked ships as examples.

"The US actions have severely harmed China’s interests and undermined the atmosphere of bilateral economic and trade talks, and China is resolutely opposed to them," the ministry said.

A spokesperson for the ministry also said China, as a responsible major country, employs export controls on related items according to the law, in order to better defend world peace and regional stability, and to fulfil non-proliferation and other international obligations.

"China's export controls are not export bans," said the spokesperson, adding that licences would be granted for eligible applications.

Before the measures were announced, China had already notified relevant countries and regions through bilateral export control dialogue mechanisms, the spokesperson noted.

The ministry said China stands ready to work with the rest of the world to step up export control dialogue and exchange, so as to better safeguard the security and stability of global industrial and supply chains.

Authorities did not announce any corresponding levy on China-bound US imports, unlike earlier in the year, when both superpowers progressively ratcheted up tariffs on each other until the US rate was 145 percent while China's was 125 percent.

Meanwhile, Trump struck a more conciliatory tone on Sunday, saying the United States does not want to hurt China.

"The U.S.A. wants to help China, not hurt it!!!" Trump said in Sunday's post on Truth Social, adding that "respected President Xi (Jinping)... doesn't want Depression for his country." (Agencies)
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Last updated: 2025-10-13 HKT 06:56