Chinese Government Condemns United States of ‘Hypocritical Policies’ Over Tariff Threat
Donald Trump’s most recent threat to impose an additional complete levy on products from China has been labeled a “prime illustration” of United States’ contradictory behavior, according to the Beijing administration.
A Commerce Ministry spokesperson also stated that Beijing could implement its own unrevealed “retaliatory steps” if the US President carries out his warning, emphasizing that the country was “unafraid” of a potential commercial battle.
On Friday, the former president retaliated at the Chinese government’s action to strengthen its regulations for exports of critical elements, accusing the Chinese leadership of “turning aggressive” and attempting to hold the international market “under its control”.
Additionally, he vowed to pull out of a arranged summit with Chinese leader Xi Jinping, which was set for a meeting in South Korea before the month ends.
His statements on last Friday rattled stock exchanges, with the S&P 500 closing down 2.7%, marking its steepest fall since earlier this year.
His comments renewed fears of a trade war between the two economic giants.
This past spring, the two sides had consented to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.
This left, American import duties on Chinese imports incurring an added import tax compared with the start of the year, while American products entering the country incur a ten percent duty.
Beijing’s recent statements – released by the relevant government department in the format of formal replies to press queries – echoed rhetoric from the height of the recent trade conflict.
They criticised United States controls on chips and semi-conductors while justifying Beijing’s export controls on rare earths as “standard procedures” to ensure national security and that of all nations.
The spokesperson stated that for “many years”, the US had “broadened the definition” of domestic safety, exploited overseas sale restrictions and “enforced” biased policies against China.
“Using” import duty warnings is not the right way to interact with Beijing,” the official said.
“The nation’s view” on a tariff war has remained steady: we wish to avoid one, but we are unafraid of one.”
Last week, Beijing revealed it was reinforcing overseas sale regulations on rare earth minerals and additional substances critical for advanced tech manufacturing.
The action was viewed as a key move, as the nation handles about 90% of the planet’s critical minerals, which are employed in items such as photovoltaic modules and smartphones.
Latest statements from both governments are being seen by observers as a means of strengthening positions in preparation for upcoming negotiations.
It is unclear whether a summit between the former president and President Xi, planned at a summit in Seoul later this month, will go ahead.
