Chinese Government Condemns America of ‘Hypocritical Policies’ Regarding Import Duty Ultimatum
Trump’s most recent warning to impose an further 100% tariff on items imported from China has been labeled a “prime illustration” of United States’ contradictory behavior, as stated by the China’s leadership.
A Commerce Ministry spokesperson additionally remarked that the nation could enact its own unrevealed “countermeasures” if the US President follows through on his threat, adding that the country was “unafraid” of a possible trade war.
On Friday, Donald Trump hit back at Beijing’s move to tighten its policies for overseas sales of rare earths, accusing China of “becoming very hostile” and attempting to hold the global community “captive”.
Additionally, he threatened to cancel a planned talks with Chinese leader Xi Jinping, which was set for a summit in Seoul later this month.
The former president’s remarks on that day shook stock exchanges, with the benchmark US stock index falling by nearly three percent, marking its biggest drop since earlier this year.
The president’s words renewed fears of a commercial dispute between the two economic giants.
Earlier this year, the both nations had consented to eliminate significant levies on each other’s imports, which had created the possibility of bilateral trade stopping between the two countries.
This left, United States levies on products from China subject to an added thirty percent tariff compared with the start of the year, while US goods entering China face a import levy.
The most recent comments from China – issued by the Ministry of Commerce in the form of written responses to journalist’s questions – reflected language from the height of the ongoing trade dispute.
Officials denounced US export restrictions on semiconductors and chips while defending the country’s own restrictions on exports on key elements as “standard procedures” to protect domestic safety and that of every country.
Their representative remarked that for “an extended period”, the America had “expanded the interpretation” of domestic safety, exploited overseas sale restrictions and “implemented” discriminatory practices against Beijing.
“Turning to” tariff threats is not the right way to interact with the Chinese government,” their representative said.
“Beijing’s stance” on a trade conflict has always been steady: we wish to avoid one, but we are fearless of one.”
Recently, Beijing revealed it was tightening export controls on rare earth minerals and additional substances essential to advanced tech manufacturing.
This was seen as a important measure, as the country handles about 90% of the global rare earth supply, which are utilized in items such as solar panels and handheld devices.
New remarks from the US and China are being seen by analysts as a method of enhancing bargaining power ahead of upcoming negotiations.
Is not yet known whether a summit between Donald Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea later this month, will go ahead.