China Accuses America of ‘Hypocritical Policies’ Over Tariff Threat
The former US president’s most recent warning to introduce an further full import duty on items imported from China has been called a “prime illustration” of US double standards, per the Chinese government.
A representative of the ministry further commented that China could implement its own undisclosed “countermeasures” if the American leader carries out his pledge, adding that the country was “not afraid” of a looming commercial battle.
This past Friday, Trump responded at the Chinese government’s action to strengthen its regulations for overseas sales of rare earth minerals, accusing China of “becoming very hostile” and attempting to hold the global community “captive”.
He also threatened to withdraw from a scheduled summit with Beijing’s head of state Xi Jinping, which was set for a meeting in South Korea in the coming weeks.
His statements on that day rattled stock exchanges, with the S&P 500 dropping over two and a half percent, marking its steepest fall since last spring.
These statements reignited concerns of a trade conflict between the two economic giants.
Earlier this year, the both nations had agreed to remove triple-digit tariffs on each other’s products, which had created the possibility of bilateral trade stopping between the two nations.
This left, American import duties on Chinese goods subject to an extra import tax compared with the start of the year, while American products entering the country face a ten percent duty.
China’s latest remarks – published by the relevant government department in the format of formal replies to journalist’s questions – mirrored language from the zenith of the recent trade conflict.
The remarks condemned US export restrictions on semiconductors and chips while supporting the country’s own export controls on rare earths as “standard procedures” to ensure state interests and that of the global community.
The official remarked that for “an extended period”, the America had “broadened the definition” of state security, abused overseas sale restrictions and “implemented” discriminatory practices against the Chinese nation.
“Resorting to tariff threats is not the proper method to engage with Beijing,” the spokesperson said.
“Beijing’s stance” on a import duty dispute has always been steady: we do not want one, but we are not afraid of one.”
The previous week, Beijing revealed it was tightening foreign shipment restrictions on key elements and further resources vital for advanced tech manufacturing.
This was seen as a important measure, as the country handles about ninety percent of the world’s rare earths, which are utilized in items such as renewable energy components and mobile phones.
Latest statements from Washington and Beijing are being viewed by observers as a method of strengthening positions ahead of forthcoming discussions.
Remains uncertain whether a meeting between the former president and President Xi, planned at a high-level meeting in Seoul later this month, will still proceed.