Beijing Slams United States of ‘Double Standards’ Regarding Trade Levy Warning
Donald Trump’s most recent warning to introduce an extra 100% tariff on products from China has been called a “prime illustration” of US double standards, as stated by the Chinese government.
A Commerce Ministry spokesperson further commented that the nation could enact its own unspecified “countermeasures” if the US President follows through on his warning, emphasizing that the country was “fearless” of a possible trade conflict.
This past Friday, Trump retaliated at China’s decision to reinforce its rules for exports of critical elements, alleging China of “adopting a confrontational stance” and attempting to hold the world “captive”.
Furthermore, he threatened to cancel a scheduled meeting with Beijing’s head of state President Xi, which was set for a summit in the Republic of Korea in the coming weeks.
His statements on that day rattled stock exchanges, with the benchmark US stock index falling by nearly three percent, marking its largest decline since earlier this year.
These statements revived fears of a commercial dispute between the US and China.
In May, the two sides had consented to eliminate triple-digit tariffs on each other’s imports, which had led to concerns of commerce ceasing between the two nations.
As a result, American import duties on products from China incurring an extra import tax compared with the start of the year, while items from the United States entering the Chinese market incur a 10% tariff.
The most recent comments from China – released by the Ministry of Commerce in the form of written responses to journalist’s questions – echoed rhetoric from the peak of the ongoing trade dispute.
The remarks condemned US export restrictions on chips and semi-conductors while defending China’s own restrictions on exports on key elements as “routine measures” to safeguard national security and that of every country.
The official stated that for “a long time”, the America had “overstretched the concept of national security, abused export control measures and “implemented” discriminatory practices against China.
“Using” import duty warnings is not the correct approach to interact with China,” the spokesperson stated.
“China’s position on a trade conflict has always been unchanging: we wish to avoid one, but we are fearless of one.”
Last week, the Chinese government announced it was tightening overseas sale regulations on key elements and further resources critical for high-technology production.
The action was viewed as a important measure, as the state handles about 90% of the planet’s critical minerals, which are employed in goods such as renewable energy components and handheld devices.
Latest statements from Washington and Beijing are being interpreted by analysts as a means of bolstering negotiating stances ahead of upcoming negotiations.
Remains uncertain whether a talks between the former president and China’s leader, planned at a high-level meeting in the Republic of Korea before month’s end, will still proceed.