Chinese Government Condemns United States of ‘Double Standards’ Over Tariff Threat

The former US president’s latest threat to enforce an further complete levy on products from China has been labeled a “typical example” of American hypocrisy, according to the Beijing administration.

A representative of the ministry additionally remarked that the nation could enact its own unrevealed “countermeasures” if the US President executes his threat, adding that the country was “fearless” of a possible trade conflict.

On Friday, Donald Trump responded at the Chinese government’s action to strengthen its rules for foreign shipments of critical elements, accusing Beijing of “turning aggressive” and attempting to hold the global community “under its control”.

Furthermore, he warned to pull out of a scheduled talks with Beijing’s head of state Xi, which was expected to take place during a summit in the Republic of Korea later this month.

His statements on Friday unsettled financial markets, with the S&P 500 dropping nearly three percent, marking its biggest drop since earlier this year.

The president’s words renewed apprehensions of a trade conflict between the US and China.

Earlier this year, the respective governments had consented to drop high import duties on each other’s products, which had led to concerns of bilateral trade stopping between the two countries.

As a result, American import duties on Chinese imports subject to an extra thirty percent tariff compared with the year’s onset, while US goods entering the country face a 10% tariff.

China’s latest remarks – published by the Ministry of Commerce in the manner of written responses to press queries – reflected rhetoric from the zenith of the ongoing trade dispute.

The remarks condemned American limits on exports on electronic components while justifying the country’s own restrictions on exports on key elements as “standard procedures” to protect state interests and that of every country.

The official stated that for “a long time”, the US had “overstretched the concept of domestic safety, misused export control measures and “adopted biased policies against Beijing.

“Resorting to import duty warnings is not the correct approach to deal with Beijing,” their representative commented.

“Beijing’s stance” on a tariff war has consistently been steady: we are not seeking one, but we are fearless of one.”

The previous week, Beijing declared it was tightening overseas sale regulations on rare earth minerals and additional substances essential to high-technology production.

This move was regarded as a key move, as the nation handles about ninety percent of the world’s rare earths, which are utilized in products such as solar panels and smartphones.

New remarks from Washington and Beijing are being viewed by analysts as a means of strengthening positions ahead of forthcoming discussions.

Remains uncertain whether a meeting between Trump and China’s leader, planned at a conference in South Korea in the coming weeks, will still proceed.