Beijing Slams US of ‘Hypocritical Policies’ Over Tariff Threat
The former US president’s most recent warning to enforce an extra 100% tariff on products from China has been described as a “prime illustration” of United States’ contradictory behavior, as stated by the Chinese government.
A representative of the ministry further commented that the nation could enact its own unrevealed “responsive actions” if the American leader executes his pledge, adding that the country was “not afraid” of a looming commercial battle.
Last Friday, Donald Trump hit back at Beijing’s move to reinforce its regulations for overseas sales of critical elements, charging China of “adopting a confrontational stance” and attempting to hold the world “captive”.
Additionally, he threatened to cancel a scheduled summit with China’s President Xi, which was set for a summit in South Korea in the coming weeks.
His statements on that day shook financial markets, with the benchmark US stock index falling by over two and a half percent, marking its largest decline since last spring.
These statements revived fears of a trade conflict between the two economic giants.
Earlier this year, the both nations had reached an agreement to eliminate significant levies on each other’s goods, which had led to concerns of bilateral trade stopping between the economic powers.
This left, United States levies on products from China facing an additional 30% levy compared with the start of the year, while American products entering the Chinese market incur a import levy.
Beijing’s recent statements – issued by the Commerce Ministry in the format of written responses to press queries – echoed terminology from the height of the ongoing trade dispute.
They criticised US export restrictions on chips and semi-conductors while justifying China’s own export controls on rare earth minerals as “standard procedures” to safeguard domestic safety and that of all nations.
The spokesperson stated that for “a long time”, the United States had “expanded the interpretation” of national security, abused foreign shipment regulations and “implemented” discriminatory practices against Beijing.
“Turning to” trade levy ultimatums is not the correct approach to deal with Beijing,” the spokesperson commented.
“The nation’s view” on a tariff war has always been consistent: we do not want one, but we are fearless of one.”
The previous week, China declared it was tightening export controls on rare earth minerals and other materials essential to cutting-edge industry.
This move was regarded as a important measure, as the country handles about 90% of the global rare earth supply, which are used in products such as photovoltaic modules and handheld devices.
The recent comments from both governments are being interpreted by some as a means of enhancing bargaining power in preparation for future trade talks.
Is not yet known 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 go ahead.