Beijing Slams United States of ‘Hypocritical Policies’ Over Tariff Threat
Trump’s most recent ultimatum to impose an extra 100% tariff on items imported from China has been described as a “typical example” of US double standards, according to the China’s leadership.
A Commerce Ministry spokesperson further commented that the nation could implement its own undisclosed “responsive actions” if the US President carries out his pledge, emphasizing that the country was “unafraid” of a potential trade war.
Last Friday, Donald Trump responded at China’s decision to tighten its rules for overseas sales of rare earths, charging China of “turning aggressive” and attempting to hold the international market “hostage”.
He also vowed to cancel a planned meeting with Beijing’s head of state President Xi, which was set for a summit in Seoul before the month ends.
Trump’s comments on that day unsettled financial markets, with the benchmark US stock index closing down 2.7%, marking its largest decline since earlier this year.
His comments reignited concerns of a commercial dispute between the US and China.
This past spring, the two sides had consented to remove significant levies on each other’s goods, which had created the possibility of commerce ceasing between the economic powers.
As a result, United States levies on Chinese imports subject to an additional thirty percent tariff compared with the start of the year, while US goods entering the country are subject to a 10% tariff.
China’s latest remarks – issued by the Ministry of Commerce in the format of official answers to journalist’s questions – mirrored language from the zenith of the latest commercial tensions.
The remarks condemned United States controls on semiconductors and chips while defending Beijing’s overseas sale regulations on rare earth minerals as “routine measures” to protect domestic safety and that of all nations.
The spokesperson stated that for “an extended period”, the United States had “expanded the interpretation” of domestic safety, abused foreign shipment regulations and “adopted biased policies against Beijing.
“Turning to” trade levy ultimatums is not the right way to interact with the Chinese government,” the official stated.
“The nation’s view” on a import duty dispute has remained steady: we do not want one, but we are unafraid of one.”
Recently, the Chinese government revealed it was strengthening foreign shipment restrictions on rare earths and further resources critical for high-technology production.
The action was viewed as a important measure, as the nation processes about ninety percent of the world’s rare earths, which are utilized in items such as photovoltaic modules and smartphones.
Latest statements from both governments are being viewed by some as a method of strengthening positions in preparation for forthcoming discussions.
Is not yet known whether a talks between Trump and Xi Jinping, planned at a high-level meeting in South Korea in the coming weeks, will take place as planned.