Chinese Government Condemns US of ‘Hypocritical Policies’ Regarding Tariff Threat
Trump’s newest threat to impose an extra full import duty on products from China has been labeled a “typical example” of United States’ contradictory behavior, as stated by the Beijing administration.
A Commerce Ministry spokesperson further commented that the nation could implement its own undisclosed “responsive actions” if the American leader carries out his pledge, noting that the country was “not afraid” of a potential trade war.
This past Friday, Donald Trump retaliated at the Chinese government’s action to tighten its regulations for overseas sales of critical elements, charging China of “becoming very hostile” and attempting to hold the world “hostage”.
Additionally, he warned to cancel a arranged summit with China’s President Xi, which was set for a meeting in South Korea later this month.
The former president’s remarks on last Friday rattled stock exchanges, with the benchmark US stock index dropping nearly three percent, marking its largest decline since last spring.
The president’s words reignited apprehensions of a trade war between the US and China.
This past spring, the two sides had consented to drop triple-digit tariffs on each other’s goods, which had created the possibility of trade halting between the economic powers.
As a result, American import duties on Chinese goods incurring an extra 30% levy compared with the start of the year, while American products entering the country are subject to a import levy.
China’s latest remarks – released by the Ministry of Commerce in the form of written responses to journalist’s questions – mirrored rhetoric from the height of the latest commercial tensions.
The remarks condemned American limits on exports on semiconductors and chips while supporting China’s own export controls on key elements as “normal actions” to ensure state interests and that of every country.
The spokesperson stated that for “an extended period”, the America had “broadened the definition” of state security, misused export control measures and “adopted unfair treatments against China.
“Turning to” import duty warnings is not the correct approach to deal with China,” the spokesperson commented.
“The nation’s view” on a trade conflict has always been steady: we are not seeking one, but we are unafraid of one.”
Recently, Beijing declared it was tightening export controls on key elements and other materials vital for cutting-edge industry.
This was seen as a key move, as the country handles about the vast majority of the world’s rare earths, which are used in goods such as solar panels and mobile phones.
Latest statements from the US and China are being seen by analysts as a method of strengthening positions prior to future trade talks.
Remains uncertain whether a meeting between the former president and President Xi, planned at a conference in the Republic of Korea in the coming weeks, will still proceed.