Beijing Slams US of ‘Hypocritical Policies’ Over Tariff Threat

Trump’s most recent warning to impose an extra complete levy on Chinese goods has been described as a “classic case” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson also stated that China could implement its own unspecified “countermeasures” if the US President follows through on his threat, noting that the country was “not afraid” of a possible commercial battle.

This past Friday, Trump responded at Beijing’s move to reinforce its rules for overseas sales of rare earth minerals, charging Beijing of “turning aggressive” and attempting to hold the world “captive”.

Additionally, he vowed to withdraw from a scheduled talks with Chinese leader Xi Jinping, which was expected to take place during a conference in South Korea later this month.

Trump’s comments on last Friday unsettled stock exchanges, with the S&P 500 closing down nearly three percent, marking its steepest fall since April.

These statements reignited concerns of a trade conflict between the United States and China.

In May, the two sides had consented to drop significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the economic powers.

This left, American import duties on products from China incurring an added thirty percent tariff compared with the start of the year, while US goods entering the country face a ten percent duty.

The most recent comments from China – published by the relevant government department in the form of written responses to media inquiries – reflected language from the zenith of the recent trade conflict.

The remarks condemned American limits on exports on semiconductors and chips while justifying the country’s own export controls on rare earths as “routine measures” to protect state interests and that of all nations.

The official stated that for “a long time”, the America had “overstretched the concept of state security, exploited overseas sale restrictions and “implemented” discriminatory practices against China.

“Using” trade levy ultimatums is not the proper method to interact with China,” the official commented.

“Beijing’s stance” on a tariff war has remained unchanging: we do not want one, but we are not afraid of one.”

Recently, China announced it was reinforcing foreign shipment restrictions on rare earths and other materials vital for high-technology production.

This was seen as a key move, as the country processes about the vast majority of the world’s rare earths, which are used in goods such as solar panels and mobile phones.

New remarks from both governments are being interpreted by observers as a means of strengthening positions prior to forthcoming discussions.

Is not yet known whether a meeting between Donald Trump and Xi Jinping, scheduled at a summit in Seoul before month’s end, will take place as planned.