Chinese Government Condemns US of ‘Contradictory Stances’ Regarding Tariff Threat

Trump’s most recent threat to enforce an additional full import duty on items imported from China has been described as a “typical example” of American hypocrisy, according to the Chinese government.

A representative of the ministry also stated that Beijing could implement its own unrevealed “responsive actions” if the American leader follows through on his threat, emphasizing that the country was “fearless” of a potential commercial battle.

This past Friday, Donald Trump responded at the Chinese government’s action to reinforce its policies for exports of rare earth minerals, accusing the Chinese leadership of “turning aggressive” and attempting to hold the world “under its control”.

Furthermore, he warned to pull out of a planned meeting with Chinese leader Xi Jinping, which was set for a meeting in Seoul in the coming weeks.

Trump’s comments on that day rattled stock exchanges, with the benchmark US stock index closing down nearly three percent, marking its largest decline since last spring.

The president’s words reignited fears of a commercial dispute between the two economic giants.

Earlier this year, the respective governments had consented to eliminate significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

This left, American import duties on Chinese goods incurring an added import tax compared with the year’s onset, while items from the United States entering China are subject to a 10% tariff.

The most recent comments from China – issued by the relevant government department in the manner of written responses to journalist’s questions – echoed language from the zenith of the recent trade conflict.

Officials denounced US export restrictions on electronic components while supporting the country’s own overseas sale regulations on rare earth minerals as “standard procedures” to safeguard national security and that of all nations.

The spokesperson stated that for “an extended period”, the US had “broadened the definition” of state security, abused foreign shipment regulations and “enforced” biased policies against Beijing.

“Using” trade levy ultimatums is not the right way to interact with the Chinese government,” the spokesperson commented.

“Beijing’s stance” on a import duty dispute has consistently been unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government revealed it was reinforcing export controls on rare earths and further resources critical for cutting-edge industry.

This was seen as a key move, as the state refines about ninety percent of the global rare earth supply, which are employed in goods such as solar panels and handheld devices.

New remarks from the US and China are being interpreted by observers as a method of bolstering negotiating stances in preparation for future trade talks.

Remains uncertain whether a meeting between Trump and Xi Jinping, scheduled at a high-level meeting in Seoul later this month, will still proceed.

Andrew Gordon
Andrew Gordon

A former sports analyst turned betting strategist, specializing in data-driven predictions for major leagues.