Beijing Slams America of ‘Hypocritical Policies’ Regarding Tariff Threat
The former US president’s newest warning to enforce an extra full import duty on items imported from China has been labeled a “prime illustration” of United States’ contradictory behavior, per the China’s leadership.
A Commerce Ministry spokesperson further commented that China could introduce its own unrevealed “retaliatory steps” if the White House occupant carries out his warning, emphasizing that the country was “unafraid” of a possible commercial battle.
Last Friday, Donald Trump responded at Beijing’s move to strengthen its regulations for foreign shipments of critical elements, accusing China of “turning aggressive” and attempting to hold the global community “captive”.
He also warned to pull out of a arranged talks with China’s President Xi Jinping, which was expected to take place during a conference in Seoul before the month ends.
His statements on last Friday rattled financial markets, with the benchmark US stock index dropping over two and a half percent, marking its steepest fall since earlier this year.
His comments reignited concerns of a trade war between the United States and China.
Earlier this year, the two sides had consented to drop triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the two nations.
Consequently, American import duties on products from China subject to an additional 30% levy compared with the start of the year, while US goods entering China face a 10% tariff.
China’s latest remarks – published by the relevant government department in the format of official answers to media inquiries – reflected rhetoric from the zenith of the recent trade conflict.
Officials denounced US export restrictions on electronic components while justifying the country’s own export controls on rare earths as “standard procedures” to protect domestic safety and that of all nations.
The spokesperson said that for “a long time”, the America had “expanded the interpretation” of state security, abused overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.
“Resorting to import duty warnings is not the right way to deal with Beijing,” their representative stated.
“China’s position on a import duty dispute has always been unchanging: we are not seeking one, but we are unafraid of one.”
Recently, the Chinese government revealed it was reinforcing foreign shipment restrictions on key elements and other materials essential to high-technology production.
This move was regarded as a significant step, as the country handles about the vast majority of the planet’s critical minerals, which are used in goods such as renewable energy components and handheld devices.
Latest statements from Washington and Beijing are being seen by observers as a means of bolstering negotiating stances in preparation for forthcoming discussions.
Is not yet known whether a meeting between the former president and China’s leader, scheduled at a conference in Seoul in the coming weeks, will still proceed.