China Accuses US of ‘Double Standards’ Over Import Duty Ultimatum

Trump’s most recent warning to enforce an additional full import duty on Chinese goods has been labeled a “prime illustration” of United States’ contradictory behavior, as stated by the China’s leadership.

A representative of the ministry further commented that Beijing could introduce its own unrevealed “countermeasures” if the US President follows through on his pledge, noting that the country was “fearless” of a possible trade war.

On Friday, Donald Trump responded at Beijing’s move to reinforce its rules for foreign shipments of rare earths, charging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “captive”.

He also warned to pull out of a arranged meeting with China’s President Xi Jinping, which was expected to take place during a conference in Seoul later this month.

His statements on Friday rattled financial markets, with the S&P 500 falling by 2.7%, marking its largest decline since April.

The president’s words renewed apprehensions of a trade war between the two economic giants.

This past spring, the respective governments had consented to remove significant levies on each other’s imports, which had raised the prospect of trade halting between the two countries.

Consequently, United States levies on products from China incurring an added 30% levy compared with the year’s onset, while US goods entering China incur a 10% tariff.

China’s latest remarks – issued by the Ministry of Commerce in the manner of formal replies to press queries – echoed rhetoric from the height of the recent trade conflict.

The remarks condemned American limits on exports on chips and semi-conductors while supporting the country’s own restrictions on exports on rare earths as “routine measures” to protect state interests and that of every country.

The official stated that for “a long time”, the US had “overstretched the concept of national security, misused export control measures and “implemented” discriminatory practices against Beijing.

“Turning to” import duty warnings is not the proper method to interact with the Chinese government,” their representative stated.

“The nation’s view” on a trade conflict has remained steady: we wish to avoid one, but we are unafraid of one.”

Recently, the Chinese government declared it was strengthening overseas sale regulations on rare earth minerals and other materials critical for cutting-edge industry.

The action was viewed as a important measure, as the country processes about ninety percent of the world’s rare earths, which are used in items such as solar panels and mobile phones.

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

It is unclear whether a meeting between Trump and President Xi, scheduled at a high-level meeting in South Korea before month’s end, will still proceed.