Beijing Slams United States of ‘Double Standards’ Concerning Trade Levy Warning
The former US president’s most recent ultimatum to introduce an extra full import duty on products from China has been described as a “prime illustration” of United States’ contradictory behavior, according to the Beijing administration.
A official from China’s Commerce Ministry additionally remarked that China could enact its own undisclosed “countermeasures” if the US President carries out his pledge, noting that the country was “unafraid” of a looming trade war.
This past Friday, Trump hit back at China’s decision to strengthen its policies for overseas sales of rare earths, charging the Chinese leadership of “turning aggressive” and attempting to hold the world “hostage”.
Additionally, he warned to cancel a scheduled talks with Beijing’s head of state President Xi, which was arranged for a meeting in Seoul before the month ends.
His statements on that day shook global markets, with the S&P 500 share index dropping 2.7%, marking its biggest drop since last spring.
These statements reignited concerns of a commercial dispute between the US and China.
In May, the respective governments had reached an agreement to remove high import duties on each other’s imports, which had raised the prospect of trade halting between the economic powers.
This left, US tariffs on Chinese goods incurring an added import tax compared with the year’s onset, while US goods entering the Chinese market face a 10% tariff.
Beijing’s recent statements – published by the Commerce Ministry in the form of written responses to media inquiries – echoed language from the peak of the latest commercial tensions.
They criticised United States controls on chips and semi-conductors while defending China’s own restrictions on exports on rare earths as “routine measures” to ensure domestic safety and that of the global community.
The spokesperson said that for “a long time”, the US had “expanded the interpretation” of state security, exploited export control measures and “enforced” unfair treatments against the Chinese nation.
“Turning to” tariff threats is not the proper method to interact with Beijing,” their representative commented.
“The nation’s view” on a import duty dispute has always been consistent: we wish to avoid one, but we are not afraid of one.”
Last week, Beijing revealed it was strengthening overseas sale regulations on key elements and further resources critical for advanced tech manufacturing.
The action was viewed as a significant step, as the country handles about 90% of the world’s rare earths, which are used in goods such as photovoltaic modules and handheld devices.
Latest statements from the US and China are being viewed by observers as a strategy of strengthening positions prior to forthcoming discussions.
It is unclear whether a talks between Trump and China’s leader, planned at a high-level meeting in Seoul before month’s end, will take place as planned.