Beijing Slams United States of ‘Double Standards’ Regarding Tariff Threat

The former US president’s most recent threat to introduce an extra complete levy on items imported from China has been described as a “classic case” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry also stated that Beijing could implement its own undisclosed “responsive actions” if the American leader executes his warning, emphasizing that the country was “fearless” of a potential trade conflict.

This past Friday, Trump retaliated at the Chinese government’s action to strengthen its regulations for overseas sales of rare earth minerals, alleging China of “adopting a confrontational stance” and attempting to hold the world “under its control”.

Furthermore, he warned to cancel a arranged talks with China’s President Xi Jinping, which was arranged for a meeting in Seoul before the month ends.

Trump’s comments on Friday rattled stock exchanges, with the S&P 500 closing down nearly three percent, marking its steepest fall since earlier this year.

The president’s words renewed fears of a trade conflict between the US and China.

In May, the both nations had reached an agreement to drop high import duties on each other’s imports, which had led to concerns of trade halting between the two nations.

Consequently, United States levies on Chinese goods facing an additional 30% levy compared with the year’s onset, while US goods entering the country incur a ten percent duty.

China’s latest remarks – published by the Commerce Ministry in the form of written responses to press queries – mirrored terminology from the height of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while justifying China’s own restrictions on exports on rare earths as “standard procedures” to safeguard national security and that of every country.

The spokesperson stated that for “many years”, the United States had “overstretched the concept of domestic safety, exploited overseas sale restrictions and “enforced” unfair treatments against China.

“Using” trade levy ultimatums is not the correct approach to engage with Beijing,” the spokesperson commented.

“China’s position on a tariff war has consistently been consistent: we wish to avoid one, but we are not afraid of one.”

Last week, China revealed it was strengthening overseas sale regulations on rare earths and further resources essential to high-technology production.

The action was viewed as a important measure, as the nation refines about the vast majority of the planet’s critical minerals, which are employed in items such as renewable energy components and smartphones.

New remarks from the US and China are being interpreted by observers as a means of strengthening positions ahead of forthcoming discussions.

Is not yet known whether a meeting between the former president and China’s leader, planned at a conference in the Republic of Korea before month’s end, will go ahead.