Beijing Slams US of ‘Double Standards’ Regarding Tariff Threat

Trump’s newest warning to introduce an further complete levy on Chinese goods has been called a “classic case” of United States’ contradictory behavior, according to the Chinese government.

A official from China’s Commerce Ministry additionally remarked that Beijing could enact its own unspecified “countermeasures” if the US President carries out his pledge, emphasizing that the country was “not afraid” of a looming trade war.

Last Friday, the former president responded at China’s decision to reinforce its rules for exports of rare earths, alleging Beijing of “turning aggressive” and attempting to hold the international market “captive”.

Additionally, he threatened to cancel a arranged meeting with Beijing’s head of state President Xi, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

His statements on last Friday rattled financial markets, with the S&P 500 share index falling by over two and a half percent, marking its biggest drop since last spring.

The president’s words reignited concerns of a commercial dispute between the US and China.

This past spring, the two sides had agreed to drop high import duties on each other’s goods, which had raised the prospect of trade halting between the two nations.

Consequently, United States levies on Chinese imports facing an additional import tax compared with the start of the year, while items from the United States entering the Chinese market face a import levy.

Beijing’s recent statements – released by the Commerce Ministry in the format of written responses to media inquiries – reflected terminology from the height of the recent trade conflict.

They criticised American limits on exports on electronic components while defending Beijing’s overseas sale regulations on rare earths as “standard procedures” to protect state interests and that of all nations.

Their representative remarked that for “a long time”, the America had “broadened the definition” of national security, exploited export control measures and “enforced” biased policies against the Chinese nation.

“Using” import duty warnings is not the proper method to deal with Beijing,” the official stated.

“China’s position on a trade conflict has always been consistent: we wish to avoid one, but we are unafraid of one.”

Recently, Beijing revealed it was reinforcing overseas sale regulations on rare earth minerals and further resources essential to cutting-edge industry.

This move was regarded as a important measure, as the country handles about 90% of the world’s rare earths, which are utilized in items such as renewable energy components and smartphones.

The recent comments from both governments are being seen by some as a method of strengthening positions ahead of upcoming negotiations.

It is unclear whether a meeting between the former president and Xi Jinping, planned at a conference in Seoul before month’s end, will take place as planned.