Chinese Government Condemns US of ‘Double Standards’ Concerning Trade Levy Warning
Donald Trump’s most recent ultimatum to impose an extra full import duty on Chinese goods has been called a “classic case” of American hypocrisy, according to the Beijing administration.
A representative of the ministry further commented that China could introduce its own unspecified “countermeasures” if the US President carries out his threat, adding that the country was “not afraid” of a looming commercial battle.
Last Friday, Trump responded at the Chinese government’s action to tighten its rules for foreign shipments of rare earth minerals, alleging Beijing of “adopting a confrontational stance” and attempting to hold the world “captive”.
Additionally, he vowed to cancel a arranged summit with Chinese leader President Xi, which was arranged for a meeting in the Republic of Korea before the month ends.
The former president’s remarks on that day unsettled financial markets, with the benchmark US stock index closing down nearly three percent, marking its steepest fall since earlier this year.
His comments reignited apprehensions of a trade conflict between the United States and China.
In May, the two sides had agreed to drop triple-digit tariffs on each other’s imports, which had raised the prospect of trade halting between the economic powers.
As a result, American import duties on Chinese goods incurring an added thirty percent tariff compared with the year’s onset, while US goods entering the Chinese market are subject to a 10% tariff.
The most recent comments from China – issued by the Commerce Ministry in the format of written responses to journalist’s questions – echoed rhetoric from the zenith of the latest commercial tensions.
They criticised US export restrictions on electronic components while defending the country’s own export controls on rare earth minerals as “standard procedures” to safeguard national security and that of all nations.
The spokesperson stated that for “an extended period”, the United States had “broadened the definition” of state security, exploited foreign shipment regulations and “adopted biased policies against Beijing.
“Using” trade levy ultimatums is not the right way to engage with Beijing,” the official said.
“China’s position on a import duty dispute has remained consistent: we are not seeking one, but we are unafraid of one.”
Last week, China announced it was strengthening foreign shipment restrictions on key elements and additional substances essential to high-technology production.
The action was viewed as a key move, as the state handles about ninety percent of the global rare earth supply, which are used in items such as photovoltaic modules and mobile phones.
New remarks from both governments are being viewed by analysts as a strategy of enhancing bargaining power ahead of future trade talks.
Is not yet known whether a talks between Trump and China’s leader, planned at a summit in Seoul in the coming weeks, will take place as planned.
