China Accuses United States of ‘Double Standards’ Regarding Tariff Threat
Donald Trump’s latest warning to enforce an extra 100% tariff on items imported from China has been called a “prime illustration” of US double standards, according to the Chinese government.
A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unrevealed “countermeasures” if the American leader executes his pledge, adding that the country was “fearless” of a looming trade war.
Last Friday, Trump responded at the Chinese government’s action to strengthen its regulations for exports of rare earth minerals, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the international market “captive”.
Furthermore, he warned to cancel a planned talks with Chinese leader President Xi, which was expected to take place during a conference in the Republic of Korea later this month.
The former president’s remarks on that day rattled stock exchanges, with the benchmark US stock index closing down nearly three percent, marking its biggest drop since last spring.
His comments reignited apprehensions of a trade war between the US and China.
Earlier this year, the both nations had agreed to drop triple-digit tariffs on each other’s products, which had created the possibility of trade halting between the economic powers.
As a result, American import duties on Chinese goods subject to an extra 30% levy compared with the start of the year, while US goods entering the country are subject to a import levy.
China’s latest remarks – published by the relevant government department in the format of formal replies to journalist’s questions – reflected language from the zenith of the latest commercial tensions.
The remarks condemned American limits on exports on electronic components while justifying China’s own restrictions on exports on rare earths as “normal actions” to safeguard domestic safety and that of all nations.
The spokesperson stated that for “many years”, the US had “broadened the definition” of state security, misused overseas sale restrictions and “enforced” biased policies against Beijing.
“Turning to” tariff threats is not the right way to engage with Beijing,” their representative stated.
“The nation’s view” on a tariff war has consistently been unchanging: we do not want one, but we are unafraid of one.”
The previous week, the Chinese government declared it was reinforcing overseas sale regulations on rare earths and other materials critical for advanced tech manufacturing.
The action was viewed as a important measure, as the country handles about 90% of the world’s rare earths, which are utilized in products such as solar panels and handheld devices.
The recent comments from Washington and Beijing are being viewed by analysts as a method of enhancing bargaining power in preparation for forthcoming discussions.
Remains uncertain whether a talks between Trump and China’s leader, expected at a conference in South Korea later this month, will take place as planned.