Beijing Slams US of ‘Hypocritical Policies’ Over Trade Levy Warning

Donald Trump’s most recent ultimatum to introduce an further complete levy on items imported from China has been labeled a “prime illustration” of US double standards, as stated by the Beijing administration.

A official from China’s Commerce Ministry further commented that China could introduce its own unrevealed “retaliatory steps” if the US President carries out his pledge, emphasizing that the country was “not afraid” of a possible trade conflict.

On Friday, the former president hit back at China’s decision to reinforce its policies for overseas sales of critical elements, alleging China of “becoming very hostile” and attempting to hold the global community “captive”.

Furthermore, he warned to withdraw from a arranged summit with China’s President Xi Jinping, which was expected to take place during a summit in Seoul later this month.

The former president’s remarks on that day rattled stock exchanges, with the S&P 500 closing down nearly three percent, marking its steepest fall since last spring.

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

Earlier this year, the respective governments had agreed to eliminate high import duties on each other’s products, which had raised the prospect of commerce ceasing between the two countries.

Consequently, American import duties on Chinese goods incurring an added 30% levy compared with the year’s onset, while US goods entering the Chinese market are subject to a 10% tariff.

China’s latest remarks – published by the relevant government department in the format of written responses to journalist’s questions – echoed language from the peak of the latest commercial tensions.

The remarks condemned US export restrictions on chips and semi-conductors while justifying China’s own export controls on key elements as “normal actions” to protect state interests and that of the global community.

The official remarked that for “a long time”, the US had “broadened the definition” of domestic safety, abused export control measures and “adopted unfair treatments against the Chinese nation.

“Turning to” import duty warnings is not the correct approach to deal with the Chinese government,” the official commented.

“China’s position on a trade conflict has remained steady: we do not want one, but we are fearless of one.”

Recently, China announced it was strengthening foreign shipment restrictions on key elements and other materials critical for advanced tech manufacturing.

This move was regarded as a significant step, as the state handles about ninety percent of the world’s rare earths, which are utilized in items such as renewable energy components and mobile phones.

New remarks from the US and China are being interpreted by some as a strategy of bolstering negotiating stances ahead of upcoming negotiations.

It is unclear whether a talks between Trump and China’s leader, planned at a conference in Seoul later this month, will still proceed.