Beijing Slams United States of ‘Contradictory Stances’ Over Import Duty Ultimatum
Trump’s newest threat to enforce an further full import duty on products from China has been called a “prime illustration” of United States’ contradictory behavior, per the Chinese government.
A representative of the ministry additionally remarked that the nation could introduce its own undisclosed “responsive actions” if the White House occupant follows through on his threat, noting that the country was “unafraid” of a looming trade conflict.
On Friday, Trump retaliated at China’s decision to strengthen its rules for foreign shipments of rare earth minerals, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “under its control”.
Additionally, he vowed to withdraw from a arranged talks with China’s President President Xi, which was set for a meeting in Seoul in the coming weeks.
His statements on last Friday shook stock exchanges, with the S&P 500 falling by nearly three percent, marking its steepest fall since last spring.
These statements revived fears of a trade conflict between the US and China.
In May, the respective governments had consented to eliminate triple-digit tariffs on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.
This left, US tariffs on Chinese imports subject to an added 30% levy compared with the start of the year, while American products entering the country face a 10% tariff.
The most recent comments from China – published by the relevant government department in the format of formal replies to press queries – mirrored rhetoric from the zenith of the recent trade conflict.
Officials denounced United States controls on semiconductors and chips while defending China’s own restrictions on exports on key elements as “normal actions” to ensure domestic safety and that of the global community.
The official stated that for “an extended period”, the US had “overstretched the concept of domestic safety, misused overseas sale restrictions and “implemented” discriminatory practices against Beijing.
“Resorting to trade levy ultimatums is not the proper method to deal with China,” the official said.
“The nation’s view” on a import duty dispute has always been consistent: we are not seeking one, but we are fearless of one.”
The previous week, China declared it was strengthening overseas sale regulations on key elements and additional substances essential to advanced tech manufacturing.
This move was regarded as a important measure, as the nation refines about 90% of the global rare earth supply, which are employed 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 future trade talks.
It is unclear whether a talks between Donald Trump and China’s leader, expected at a summit in South Korea before month’s end, will go ahead.
