Chinese Government Condemns America of ‘Contradictory Stances’ Over Tariff Threat
Donald Trump’s most recent ultimatum to impose an extra full import duty on items imported from China has been called a “classic case” of United States’ contradictory behavior, according to the Chinese government.
A representative of the ministry also stated that China could implement its own undisclosed “responsive actions” if the White House occupant carries out his threat, noting that the country was “unafraid” of a possible commercial battle.
This past Friday, the former president hit back at Beijing’s move to tighten its regulations for overseas sales of critical elements, alleging Beijing of “turning aggressive” and attempting to hold the international market “captive”.
He also threatened to withdraw from a arranged meeting with China’s President Xi, which was expected to take place during a summit in Seoul in the coming weeks.
The former president’s remarks on Friday shook global markets, with the S&P 500 share index falling by over two and a half percent, marking its biggest drop since earlier this year.
These statements renewed concerns of a trade war between the two economic giants.
In May, the two sides had reached an agreement to remove triple-digit tariffs on each other’s products, which had raised the prospect of commerce ceasing between the economic powers.
As a result, American import duties on products from China incurring an added 30% levy compared with the start of the year, while items from the United States entering the country incur a 10% tariff.
Beijing’s recent statements – published by the Commerce Ministry in the manner of written responses to press queries – mirrored terminology from the zenith of the ongoing trade dispute.
Officials denounced United States controls on semiconductors and chips while supporting the country’s own restrictions on exports on rare earth minerals as “routine measures” to protect national security and that of every country.
The spokesperson stated that for “many years”, the America had “expanded the interpretation” of state security, abused overseas sale restrictions and “enforced” unfair treatments against China.
“Resorting to trade levy ultimatums is not the right way to interact with China,” the official commented.
“Beijing’s stance” on a import duty dispute has remained steady: we do not want one, but we are fearless of one.”
Last week, China revealed it was tightening foreign shipment restrictions on rare earths and additional substances vital for high-technology production.
This was seen as a key move, as the state processes about 90% of the planet’s critical minerals, which are used in products such as photovoltaic modules and handheld devices.
The recent comments from both governments are being seen by observers as a method of bolstering negotiating stances ahead of upcoming negotiations.
Is not yet known whether a summit between Donald Trump and Xi Jinping, planned at a conference in South Korea in the coming weeks, will go ahead.