Chinese Government Condemns US of ‘Double Standards’ Over Import Duty Ultimatum

Trump’s newest warning to introduce an extra 100% tariff on Chinese goods has been described as a “typical example” of United States’ contradictory behavior, according to the China’s leadership.

A official from China’s Commerce Ministry further commented that China could enact its own undisclosed “countermeasures” if the American leader executes his threat, emphasizing that the country was “fearless” of a looming commercial battle.

This past Friday, Donald Trump hit back at China’s decision to strengthen its policies for exports of rare earth minerals, accusing Beijing of “adopting a confrontational stance” and attempting to hold the world “under its control”.

Furthermore, he vowed to withdraw from a arranged summit with Beijing’s head of state Xi, which was set for a meeting in the Republic of Korea before the month ends.

His statements on Friday unsettled stock exchanges, with the S&P 500 closing down nearly three percent, marking its steepest fall since last spring.

These statements renewed fears of a trade conflict between the United States and China.

Earlier this year, the respective governments had consented to eliminate significant levies on each other’s imports, which had raised the prospect of commerce ceasing between the two countries.

Consequently, United States levies on Chinese goods facing an added import tax compared with the year’s onset, while US goods entering the country face a ten percent duty.

China’s latest remarks – published by the Commerce Ministry in the manner of official answers to media inquiries – reflected rhetoric from the height of the ongoing trade dispute.

The remarks condemned United States controls on semiconductors and chips while justifying Beijing’s restrictions on exports on rare earth minerals as “normal actions” to safeguard domestic safety and that of every country.

The official stated that for “many years”, the US had “overstretched the concept of domestic safety, misused export control measures and “implemented” biased policies against the Chinese nation.

“Turning to” trade levy ultimatums is not the correct approach to interact with China,” their representative commented.

“Beijing’s stance” on a trade conflict has consistently been consistent: we are not seeking one, but we are not afraid of one.”

The previous week, the Chinese government announced it was tightening foreign shipment restrictions on rare earths and other materials essential to cutting-edge industry.

This was seen as a key move, as the nation processes about 90% of the planet’s critical minerals, which are utilized in items such as solar panels and mobile phones.

The recent comments from Washington and Beijing are being seen by some as a means of bolstering negotiating stances prior to upcoming negotiations.

Is not yet known whether a meeting between Trump and China’s leader, planned at a summit in the Republic of Korea before month’s end, will take place as planned.