Beijing Slams US of ‘Double Standards’ Regarding Tariff Threat

The former US president’s latest threat to introduce an additional 100% tariff on items imported from China has been called a “typical example” of American hypocrisy, as stated by the China’s leadership.

A representative of the ministry also stated that the nation could introduce its own undisclosed “retaliatory steps” if the White House occupant carries out his pledge, noting that the country was “not afraid” of a potential commercial battle.

Last Friday, Trump responded at the Chinese government’s action to reinforce its regulations for overseas sales of critical elements, charging China of “turning aggressive” and attempting to hold the world “under its control”.

Additionally, he warned to withdraw from a arranged talks with Beijing’s head of state President Xi, which was expected to take place during a conference in Seoul in the coming weeks.

Trump’s comments on Friday shook global markets, with the S&P 500 share index falling by 2.7%, marking its steepest fall since earlier this year.

These statements renewed apprehensions of a trade conflict between the United States and China.

In May, the two sides had consented to drop triple-digit tariffs on each other’s products, which had led to concerns of trade halting between the economic powers.

This left, American import duties on Chinese imports incurring an extra 30% levy compared with the year’s onset, while items from the United States entering China incur a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the form of official answers to press queries – echoed rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned US export restrictions on semiconductors and chips while justifying Beijing’s restrictions on exports on key elements as “routine measures” to protect domestic safety and that of all nations.

The official remarked that for “many years”, the US had “expanded the interpretation” of national security, exploited overseas sale restrictions and “enforced” unfair treatments against the Chinese nation.

“Turning to” trade levy ultimatums is not the proper method to engage with Beijing,” the official stated.

“The nation’s view” on a trade conflict has consistently been consistent: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing revealed it was reinforcing overseas sale regulations on key elements and further resources vital for high-technology production.

This move was regarded as a key move, as the country handles about the vast majority of the planet’s critical minerals, which are utilized in items such as photovoltaic modules and smartphones.

Latest statements from the US and China are being viewed by observers as a method of strengthening positions in preparation for upcoming negotiations.

It is unclear whether a meeting between the former president and China’s leader, planned at a conference in the Republic of Korea in the coming weeks, will go ahead.