China Accuses America of ‘Contradictory Stances’ Regarding Trade Levy Warning

Trump’s latest ultimatum to impose an extra 100% tariff on Chinese goods has been called a “typical example” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that the nation could enact its own unspecified “responsive actions” if the US President carries out his pledge, emphasizing that the country was “unafraid” of a potential commercial battle.

This past Friday, Trump hit back at the Chinese government’s action to strengthen its regulations for foreign shipments of rare earths, charging Beijing of “adopting a confrontational stance” and attempting to hold the international market “captive”.

Furthermore, he warned to withdraw from a scheduled meeting with Chinese leader Xi Jinping, which was expected to take place during a conference in South Korea in the coming weeks.

The former president’s remarks on that day rattled financial markets, with the S&P 500 share index falling by 2.7%, marking its steepest fall since last spring.

His comments renewed concerns of a trade conflict between the US and China.

Earlier this year, the two sides had consented to remove high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the two countries.

Consequently, United States levies on Chinese imports subject to an extra 30% levy compared with the year’s onset, while items from the United States entering the country are subject to a ten percent duty.

China’s latest remarks – issued by the Ministry of Commerce in the manner of formal replies to media inquiries – echoed terminology from the height of the ongoing trade dispute.

They criticised United States controls on electronic components while justifying the country’s own export controls on key elements as “standard procedures” to safeguard national security and that of every country.

The spokesperson remarked that for “a long time”, the United States had “broadened the definition” of state security, exploited export control measures and “adopted biased policies against China.

“Resorting to import duty warnings is not the correct approach to deal with the Chinese government,” the spokesperson commented.

“The nation’s view” on a import duty dispute has always been steady: we do not want one, but we are unafraid of one.”

Last week, Beijing announced it was tightening export controls on rare earth minerals and additional substances essential to high-technology production.

This move was regarded as a important measure, as the nation processes about 90% of the planet’s critical minerals, which are employed in items such as solar panels and smartphones.

The recent comments from the US and China are being viewed by analysts as a method of enhancing bargaining power prior to upcoming negotiations.

Is not yet known whether a meeting between Donald Trump and Xi Jinping, expected at a high-level meeting in the Republic of Korea in the coming weeks, will still proceed.