Beijing Slams US of ‘Double Standards’ Regarding Tariff Threat
The former US president’s most recent warning to impose an extra full import duty on Chinese goods has been labeled a “typical example” of American hypocrisy, according to the Chinese government.
A Commerce Ministry spokesperson also stated that China could introduce its own unrevealed “retaliatory steps” if the US President follows through on his warning, emphasizing that the country was “not afraid” of a looming commercial battle.
On Friday, Trump retaliated at China’s decision to reinforce its policies for foreign shipments of critical elements, charging China of “becoming very hostile” and attempting to hold the global community “under its control”.
Additionally, he warned to cancel a scheduled talks with China’s President Xi Jinping, which was expected to take place during a meeting in the Republic of Korea later this month.
His statements on last Friday unsettled financial markets, with the benchmark US stock index closing down nearly three percent, marking its steepest fall since last spring.
His comments reignited fears of a trade war between the United States and China.
This past spring, the respective governments had agreed to remove triple-digit tariffs on each other’s products, which had raised the prospect of bilateral trade stopping between the two nations.
This left, United States levies on products from China facing an added thirty percent tariff compared with the start of the year, while items from the United States entering China face a ten percent duty.
Beijing’s recent statements – issued by the Commerce Ministry in the manner of written responses to journalist’s questions – echoed terminology from the height of the recent trade conflict.
They criticised United States controls on chips and semi-conductors while supporting China’s own export controls on rare earths as “normal actions” to ensure national security and that of all nations.
The official stated that for “a long time”, the US had “broadened the definition” of state security, abused overseas sale restrictions and “implemented” unfair treatments against China.
“Using” trade levy ultimatums is not the right way to deal with China,” their representative stated.
“Beijing’s stance” on a tariff war has consistently been consistent: we are not seeking one, but we are unafraid of one.”
Recently, the Chinese government declared it was tightening overseas sale regulations on rare earths and further resources essential to advanced tech manufacturing.
The action was viewed as a key move, as the state processes about 90% of the world’s rare earths, which are utilized in products such as renewable energy components and mobile phones.
New remarks from the US and China are being interpreted by observers as a method of strengthening positions ahead of forthcoming discussions.
Is not yet known whether a talks between Trump and Xi Jinping, scheduled at a conference in South Korea later this month, will still proceed.
