Beijing Slams United States of ‘Hypocritical Policies’ Regarding Tariff Threat
Donald Trump’s newest threat to enforce an extra full import duty on products from China has been labeled a “classic case” of United States’ contradictory behavior, according to the Chinese government.
A representative of the ministry further commented that China could enact its own unrevealed “countermeasures” if the White House occupant follows through on his pledge, emphasizing that the country was “unafraid” of a possible trade conflict.
On Friday, Donald Trump retaliated at the Chinese government’s action to tighten its rules for overseas sales of critical elements, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the international market “hostage”.
He also threatened to pull out of a arranged summit with Beijing’s head of state Xi, which was arranged for a summit in the Republic of Korea before the month ends.
His statements on that day shook stock exchanges, with the benchmark US stock index falling by nearly three percent, marking its steepest fall since April.
These statements reignited apprehensions of a commercial dispute between the two economic giants.
Earlier this year, the respective governments had agreed to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the two nations.
As a result, US tariffs on Chinese imports subject to an added thirty percent tariff compared with the start of the year, while US goods entering the country face a ten percent duty.
The most recent comments from China – published by the Commerce Ministry in the manner of formal replies to press queries – mirrored terminology from the zenith of the recent trade conflict.
The remarks condemned United States controls on electronic components while justifying the country’s own overseas sale regulations on key elements as “normal actions” to ensure state interests and that of all nations.
Their representative said that for “many years”, the America had “expanded the interpretation” of domestic safety, abused export control measures and “adopted biased policies against Beijing.
“Resorting to trade levy ultimatums is not the proper method to deal with the Chinese government,” the spokesperson said.
“China’s position on a tariff war has always been steady: we do not want one, but we are fearless of one.”
Recently, China announced it was tightening foreign shipment restrictions on key elements and further resources critical for cutting-edge industry.
This move was regarded as a important measure, as the nation refines about ninety percent of the world’s rare earths, which are utilized in items such as renewable energy components and mobile phones.
The recent comments from Washington and Beijing are being interpreted by some as a strategy of bolstering negotiating stances prior to future trade talks.
It is unclear whether a summit between Trump and China’s leader, scheduled at a high-level meeting in Seoul in the coming weeks, will go ahead.
