Beijing Slams United States of ‘Double Standards’ Regarding Import Duty Ultimatum

Donald Trump’s most recent threat to impose an extra complete levy on products from China has been labeled a “typical example” of US double standards, according to the Beijing administration.

A representative of the ministry further commented that China could implement its own undisclosed “responsive actions” if the American leader follows through on his threat, noting that the country was “unafraid” of a potential trade conflict.

On Friday, the former president retaliated at China’s decision to tighten its rules for foreign shipments of rare earth minerals, accusing China of “turning aggressive” and attempting to hold the international market “under its control”.

He also threatened to pull out of a scheduled summit with Chinese leader Xi Jinping, which was expected to take place during a summit in Seoul later this month.

The former president’s remarks on last Friday unsettled stock exchanges, with the S&P 500 share index closing down over two and a half percent, marking its biggest drop since last spring.

His comments renewed fears of a trade conflict between the US and China.

This past spring, the two sides had consented to eliminate triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the two nations.

This left, United States levies on Chinese imports subject to an additional 30% levy compared with the start of the year, while items from the United States entering China face a 10% tariff.

The most recent comments from China – released by the Ministry of Commerce in the manner of official answers to journalist’s questions – reflected rhetoric from the zenith of the recent trade conflict.

Officials denounced American limits on exports on chips and semi-conductors while justifying the country’s own export controls on key elements as “normal actions” to ensure national security and that of all nations.

The spokesperson remarked that for “many years”, the United States had “overstretched the concept of national security, misused overseas sale restrictions and “enforced” discriminatory practices against the Chinese nation.

“Resorting to tariff threats is not the proper method to engage with China,” their representative stated.

“China’s position on a tariff war has remained steady: we are not seeking one, but we are unafraid of one.”

Last week, the Chinese government declared it was strengthening export controls on key elements and further resources essential to cutting-edge industry.

The action was viewed as a important measure, as the nation refines about the vast majority of the world’s rare earths, which are employed in items such as renewable energy components and mobile phones.

New remarks from Washington and Beijing are being seen by some as a strategy of enhancing bargaining power prior to future trade talks.

Remains uncertain whether a talks between the former president and China’s leader, planned at a summit in Seoul later this month, will go ahead.