China Accuses United States of ‘Hypocritical Policies’ Concerning Tariff Threat

Donald Trump’s most recent threat to impose an additional complete levy on Chinese goods has been described as a “typical example” of US double standards, per the Beijing administration.

A Commerce Ministry spokesperson further commented that China could implement its own unspecified “retaliatory steps” if the US President executes his threat, adding that the country was “unafraid” of a looming trade conflict.

On Friday, the former president hit back at Beijing’s move to strengthen its regulations for exports of rare earths, accusing Beijing of “becoming very hostile” and attempting to hold the world “under its control”.

Furthermore, he vowed to cancel a arranged talks with China’s President President Xi, which was expected to take place during a meeting in South Korea in the coming weeks.

The former president’s remarks on Friday unsettled global markets, with the benchmark US stock index falling by 2.7%, marking its largest decline since last spring.

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

Earlier this year, the both nations had agreed to remove triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the economic powers.

As a result, US tariffs on products from China incurring an additional import tax compared with the start of the year, while items from the United States entering the country face a 10% tariff.

The most recent comments from China – published by the relevant government department in the form of official answers to press queries – mirrored terminology from the peak of the recent trade conflict.

The remarks condemned American limits on exports on chips and semi-conductors while defending the country’s own restrictions on exports on rare earths as “normal actions” to ensure state interests and that of every country.

The official remarked that for “an extended period”, the United States had “overstretched the concept of domestic safety, misused export control measures and “adopted discriminatory practices against the Chinese nation.

“Using” tariff threats is not the proper method to engage with Beijing,” the official stated.

“The nation’s view” on a import duty dispute has remained unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing announced it was strengthening export controls on rare earths and additional substances essential to high-technology production.

This was seen as a significant step, as the nation refines about 90% of the planet’s critical minerals, which are utilized in products such as photovoltaic modules and smartphones.

Latest statements from the US and China are being seen by some as a means of strengthening positions ahead of upcoming negotiations.

Is not yet known whether a summit between Donald Trump and Xi Jinping, scheduled at a summit in Seoul later this month, will still proceed.