Chinese Government Condemns United States of ‘Contradictory Stances’ Over Tariff Threat
Trump’s most recent threat to impose an additional complete levy on items imported from China has been called a “classic case” of United States’ contradictory behavior, according to the Beijing administration.
A Commerce Ministry spokesperson further commented that China could enact its own unrevealed “responsive actions” if the American leader executes his pledge, adding that the country was “fearless” of a potential commercial battle.
This past Friday, Donald Trump hit back at China’s decision to reinforce its rules for overseas sales of rare earths, accusing Beijing of “turning aggressive” and attempting to hold the global community “under its control”.
He also warned to pull out of a planned meeting with Chinese leader Xi, which was set for a meeting in the Republic of Korea later this month.
His statements on that day rattled global markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since last spring.
The president’s words reignited concerns of a commercial dispute between the US and China.
In May, the both nations had agreed to eliminate significant levies on each other’s goods, which had raised the prospect of bilateral trade stopping between the economic powers.
This left, US tariffs on Chinese imports subject to an added import tax compared with the start of the year, while items from the United States entering the Chinese market are subject to a import levy.
The most recent comments from China – published by the Commerce Ministry in the form of formal replies to media inquiries – echoed language from the peak of the recent trade conflict.
The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own export controls on rare earths as “routine measures” to protect domestic safety and that of every country.
The official stated that for “a long time”, the US had “expanded the interpretation” of state security, misused overseas sale restrictions and “implemented” discriminatory practices against the Chinese nation.
“Turning to” import duty warnings is not the right way to deal with Beijing,” the official stated.
“The nation’s view” on a trade conflict has remained unchanging: we wish to avoid one, but we are unafraid of one.”
The previous week, China declared it was strengthening foreign shipment restrictions on rare earth minerals and other materials essential to advanced tech manufacturing.
The action was viewed as a key move, as the state processes about the vast majority of the world’s rare earths, which are used in products such as renewable energy components and smartphones.
Latest statements from Washington and Beijing are being viewed by some as a means of bolstering negotiating stances ahead of forthcoming discussions.
Is not yet known whether a meeting between Trump and Xi Jinping, planned at a conference in Seoul in the coming weeks, will go ahead.