Chinese Government Condemns US of ‘Hypocritical Policies’ Concerning Trade Levy Warning

The former US president’s most recent threat to introduce an extra 100% tariff on items imported from China has been described as a “typical example” of United States’ contradictory behavior, according to the Beijing administration.

A Commerce Ministry spokesperson further commented that the nation could introduce its own undisclosed “retaliatory steps” if the White House occupant executes his threat, noting that the country was “fearless” of a potential trade war.

This past Friday, Trump responded at Beijing’s move to strengthen its rules for foreign shipments of rare earths, accusing China of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he vowed to cancel a scheduled talks with Beijing’s head of state Xi, which was arranged for a meeting in South Korea later this month.

His statements on Friday shook financial markets, with the benchmark US stock index closing down over two and a half percent, marking its steepest fall since April.

The president’s words revived apprehensions of a trade war between the United States and China.

This past spring, the two sides had consented to eliminate significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

This left, American import duties on Chinese imports facing an added import tax compared with the year’s onset, while American products entering China are subject to a import levy.

The most recent comments from China – released by the Commerce Ministry in the form of official answers to press queries – reflected language from the zenith of the ongoing trade dispute.

They criticised United States controls on electronic components while defending the country’s own overseas sale regulations on key elements as “standard procedures” to safeguard national security and that of the global community.

Their representative stated that for “a long time”, the America had “broadened the definition” of national security, misused foreign shipment regulations and “enforced” discriminatory practices against China.

“Resorting to tariff threats is not the correct approach to interact with Beijing,” the spokesperson said.

“The nation’s view” on a import duty dispute has consistently been unchanging: we are not seeking one, but we are unafraid of one.”

Last week, Beijing revealed it was tightening overseas sale regulations on rare earth minerals and additional substances essential to cutting-edge industry.

The action was viewed as a important measure, as the country processes about the vast majority of the world’s rare earths, which are utilized in goods such as renewable energy components and mobile phones.

The recent comments from the US and China are being interpreted by observers as a method of bolstering negotiating stances ahead of forthcoming discussions.

It is unclear whether a summit between the former president and President Xi, planned at a summit in Seoul before month’s end, will still proceed.