China Accuses America of ‘Double Standards’ Regarding Tariff Threat

The former US president’s newest ultimatum to impose an further full import duty on products from China has been labeled a “classic case” of United States’ contradictory behavior, as stated by the Chinese government.

A Commerce Ministry spokesperson further commented that Beijing could introduce its own unspecified “responsive actions” if the White House occupant follows through on his pledge, emphasizing that the country was “fearless” of a looming trade conflict.

Last Friday, Donald Trump retaliated at China’s decision to reinforce its regulations for overseas sales of rare earth minerals, accusing Beijing of “turning aggressive” and attempting to hold the global community “captive”.

Additionally, he threatened to pull out of a planned talks with Beijing’s head of state Xi Jinping, which was arranged for a meeting in Seoul later this month.

His statements on Friday rattled financial markets, with the benchmark US stock index closing down nearly three percent, marking its steepest fall since last spring.

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

In May, the both nations had agreed to eliminate significant levies on each other’s products, which had led to concerns of commerce ceasing between the economic powers.

As a result, United States levies on Chinese imports facing an additional import tax compared with the start of the year, while American products entering China incur a import levy.

China’s latest remarks – published by the Commerce Ministry in the format of official answers to press queries – reflected terminology from the zenith of the ongoing trade dispute.

They criticised United States controls on electronic components while defending China’s own restrictions on exports on key elements as “routine measures” to ensure national security and that of every country.

The spokesperson stated that for “an extended period”, the US had “expanded the interpretation” of national security, exploited foreign shipment regulations and “enforced” biased policies against China.

“Turning to” tariff threats is not the correct approach to engage with Beijing,” the spokesperson commented.

“The nation’s view” on a tariff war has remained steady: we do not want one, but we are unafraid of one.”

Last week, Beijing revealed it was tightening overseas sale regulations on rare earth minerals and additional substances critical for high-technology production.

This was seen as a significant step, as the state refines about ninety percent of the world’s rare earths, which are utilized in items such as photovoltaic modules and handheld devices.

The recent comments from Washington and Beijing are being viewed by some as a strategy of enhancing bargaining power prior to upcoming negotiations.

It is unclear whether a summit between Trump and President Xi, planned at a conference in Seoul before month’s end, will still proceed.