Beijing Slams United States of ‘Contradictory Stances’ Concerning Import Duty Ultimatum
Donald Trump’s most recent threat to impose an additional complete levy on Chinese goods has been labeled a “prime illustration” of United States’ contradictory behavior, according to the Chinese government.
A Commerce Ministry spokesperson further commented that the nation could introduce its own unspecified “responsive actions” if the American leader executes his pledge, adding that the country was “unafraid” of a looming trade conflict.
This past Friday, the former president responded at China’s decision to strengthen its policies for overseas sales of rare earths, alleging China of “turning aggressive” and attempting to hold the world “captive”.
Additionally, he threatened to withdraw from a planned talks with China’s President President Xi, which was set for a conference in Seoul later this month.
Trump’s comments on that day shook financial markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since earlier this year.
The president’s words revived apprehensions of a trade war between the United States and China.
In May, the both nations had reached an agreement to remove significant levies on each other’s imports, which had raised the prospect of commerce ceasing between the two countries.
This left, US tariffs on Chinese imports incurring an additional import tax compared with the year’s onset, while items from the United States entering the country are subject to a import levy.
China’s latest remarks – issued by the Ministry of Commerce in the format of formal replies to media inquiries – mirrored language from the peak of the recent trade conflict.
The remarks condemned United States controls on chips and semi-conductors while justifying the country’s own export controls on rare earths as “routine measures” to safeguard state interests and that of all nations.
The official stated that for “many years”, the US had “broadened the definition” of domestic safety, misused overseas sale restrictions and “implemented” biased policies against China.
“Using” tariff threats is not the proper method to engage with Beijing,” the official said.
“Beijing’s stance” on a trade conflict has always been consistent: we wish to avoid one, but we are not afraid of one.”
Last week, the Chinese government revealed it was tightening foreign shipment restrictions on rare earth minerals and further resources vital for high-technology production.
This was seen as a important measure, as the state refines about 90% of the world’s rare earths, which are employed in items such as solar panels and handheld devices.
New remarks from Washington and Beijing are being seen by some as a method of strengthening positions ahead of future trade talks.
Is not yet known whether a talks between Donald Trump and Xi Jinping, planned at a conference in the Republic of Korea before month’s end, will go ahead.