Beijing Slams United States of ‘Contradictory Stances’ Regarding Import Duty Ultimatum
Donald Trump’s latest warning to introduce an additional 100% tariff on items imported from China has been described as a “prime illustration” of United States’ contradictory behavior, per the Beijing administration.
A official from China’s Commerce Ministry also stated that Beijing could introduce its own unrevealed “countermeasures” if the White House occupant carries out his threat, adding that the country was “fearless” of a potential trade conflict.
On Friday, the former president hit back at China’s decision to tighten its regulations for foreign shipments of rare earths, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “under its control”.
He also warned to cancel a planned talks with Chinese leader President Xi, which was set for a conference in South Korea in the coming weeks.
His statements on that day unsettled stock exchanges, with the S&P 500 closing down nearly three percent, marking its biggest drop since April.
His comments revived fears of a trade conflict between the two economic giants.
Earlier this year, the respective governments had reached an agreement to drop high import duties on each other’s products, which had created the possibility of commerce ceasing between the two countries.
Consequently, American import duties on products from China facing an added thirty percent tariff compared with the year’s onset, while items from the United States entering China incur a ten percent duty.
The most recent comments from China – issued by the relevant government department in the form of formal replies to media inquiries – mirrored language from the height of the ongoing trade dispute.
The remarks condemned US export restrictions on electronic components while justifying the country’s own overseas sale regulations on rare earths as “standard procedures” to safeguard national security and that of the global community.
The official said that for “many years”, the America had “overstretched the concept of domestic safety, misused overseas sale restrictions and “implemented” discriminatory practices against Beijing.
“Resorting to tariff threats is not the proper method to deal with the Chinese government,” their representative stated.
“Beijing’s stance” on a trade conflict has remained unchanging: we wish to avoid one, but we are fearless of one.”
Recently, China revealed it was tightening export controls on key elements and additional substances critical for advanced tech manufacturing.
This was seen as a important measure, as the country handles about 90% of the planet’s critical minerals, which are used in items such as photovoltaic modules and smartphones.
The recent comments from Washington and Beijing are being interpreted by some as a method of enhancing bargaining power in preparation for future trade talks.
It is unclear whether a summit between Donald Trump and President Xi, planned at a summit in South Korea in the coming weeks, will still proceed.