China Accuses US of ‘Hypocritical Policies’ Regarding Tariff Threat

Donald Trump’s most recent warning to impose an further full import duty on products from China has been described as a “typical example” of US double standards, per the Beijing administration.

A Commerce Ministry spokesperson also stated that the nation could introduce its own unrevealed “retaliatory steps” if the White House occupant carries out his warning, noting that the country was “not afraid” of a potential trade conflict.

On Friday, Donald Trump hit back at the Chinese government’s action to strengthen its policies for overseas sales of rare earth minerals, charging Beijing of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he vowed to cancel a arranged meeting with Chinese leader Xi, which was expected to take place during a summit in the Republic of Korea later this month.

Trump’s comments on Friday rattled global markets, with the S&P 500 falling by nearly three percent, marking its steepest fall since April.

His comments renewed fears of a trade war between the United States and China.

Earlier this year, the respective governments had consented to drop significant levies on each other’s imports, which had created the possibility of trade halting between the two countries.

This left, United States levies on products from China incurring an added 30% levy compared with the year’s onset, while American products entering the Chinese market face a 10% tariff.

Beijing’s recent statements – published by the Commerce Ministry in the format of written responses to journalist’s questions – echoed terminology from the peak of the ongoing trade dispute.

They criticised American limits on exports on chips and semi-conductors while supporting Beijing’s restrictions on exports on rare earth minerals as “routine measures” to ensure domestic safety and that of the global community.

The spokesperson stated that for “many years”, the America had “expanded the interpretation” of national security, exploited overseas sale restrictions and “adopted biased policies against Beijing.

“Turning to” import duty warnings is not the proper method to deal with China,” the spokesperson stated.

“China’s position on a tariff war has remained steady: we are not seeking one, but we are unafraid of one.”

The previous week, Beijing revealed it was strengthening foreign shipment restrictions on rare earth minerals and further resources essential to advanced tech manufacturing.

The action was viewed as a key move, as the country refines about ninety percent of the world’s rare earths, which are used in goods such as renewable energy components and smartphones.

Latest statements from the US and China are being interpreted by analysts as a means of bolstering negotiating stances ahead of forthcoming discussions.

Remains uncertain whether a talks between Donald Trump and President Xi, scheduled at a high-level meeting in South Korea in the coming weeks, will take place as planned.