Chinese Government Condemns America of ‘Double Standards’ Concerning Trade Levy Warning

Donald Trump’s most recent threat to impose an extra 100% tariff on products from China has been labeled a “typical example” of American hypocrisy, as stated by the Chinese government.

A representative of the ministry additionally remarked that Beijing could implement its own undisclosed “countermeasures” if the American leader executes his warning, emphasizing that the country was “fearless” of a looming commercial battle.

Last Friday, Trump hit back at China’s decision to reinforce its regulations for overseas sales of critical elements, charging the Chinese leadership of “turning aggressive” and attempting to hold the international market “captive”.

Additionally, he vowed to pull out of a arranged meeting with Beijing’s head of state President Xi, which was arranged for a meeting in Seoul before the month ends.

The former president’s remarks on that day rattled global markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since April.

His comments renewed concerns of a trade war between the United States and China.

Earlier this year, the two sides had agreed to eliminate significant levies on each other’s goods, which had created the possibility of commerce ceasing between the two countries.

This left, US tariffs on products from China subject to an extra import tax compared with the year’s onset, while US goods entering China are subject to a 10% tariff.

China’s latest remarks – released by the Commerce Ministry in the form of written responses to press queries – mirrored language from the height of the recent trade conflict.

The remarks condemned US export restrictions on chips and semi-conductors while supporting China’s own restrictions on exports on rare earths as “normal actions” to safeguard state interests and that of the global community.

The spokesperson said that for “a long time”, the United States had “overstretched the concept of state security, exploited overseas sale restrictions and “implemented” biased policies against the Chinese nation.

“Turning to” import duty warnings is not the right way to engage with Beijing,” the official commented.

“China’s position on a tariff war has consistently been consistent: we do not want one, but we are fearless of one.”

Recently, China declared it was reinforcing foreign shipment restrictions on rare earths and further resources critical for cutting-edge industry.

This move was regarded as a key move, as the nation refines about ninety percent of the planet’s critical minerals, which are employed in products such as solar panels and handheld devices.

Latest statements from Washington and Beijing are being interpreted by some as a strategy of strengthening positions prior to future trade talks.

It is unclear whether a talks between Donald Trump and China’s leader, planned at a high-level meeting in the Republic of Korea later this month, will still proceed.