Beijing Slams America of ‘Contradictory Stances’ Over Tariff Threat
The former US president’s newest warning to impose an further 100% tariff on Chinese goods has been called a “prime illustration” of United States’ contradictory behavior, as stated by the Chinese government.
A Commerce Ministry spokesperson additionally remarked that the nation could introduce its own undisclosed “countermeasures” if the White House occupant carries out his pledge, adding that the country was “not afraid” of a possible trade conflict.
Last Friday, Donald Trump responded at China’s decision to reinforce its rules for exports of rare earths, alleging the Chinese leadership of “turning aggressive” and attempting to hold the international market “under its control”.
He also vowed to pull out of a arranged talks with China’s President Xi Jinping, which was arranged for a summit in the Republic of Korea before the month ends.
Trump’s comments on that day shook stock exchanges, with the S&P 500 share index dropping 2.7%, marking its largest decline since last spring.
These statements revived concerns of a trade war between the United States and China.
In May, the respective governments had reached an agreement to remove high import duties on each other’s products, which had created the possibility of trade halting between the two nations.
As a result, United States levies on Chinese goods incurring an additional 30% levy compared with the year’s onset, while American products entering the country incur a import levy.
China’s latest remarks – released by the Ministry of Commerce in the form of formal replies to press queries – mirrored rhetoric from the peak of the ongoing trade dispute.
They criticised US export restrictions on chips and semi-conductors while defending the country’s own export controls on key elements as “standard procedures” to protect national security and that of every country.
The spokesperson said that for “an extended period”, the America had “broadened the definition” of national security, abused export control measures and “enforced” biased policies against China.
“Resorting to import duty warnings is not the proper method to interact with China,” the official commented.
“Beijing’s stance” on a trade conflict has remained steady: we are not seeking one, but we are fearless of one.”
The previous week, Beijing declared it was tightening overseas sale regulations on key elements and additional substances vital for advanced tech manufacturing.
The action was viewed as a important measure, as the state refines about 90% of the world’s rare earths, which are employed in products such as renewable energy components and smartphones.
The recent comments from the US and China are being seen by some as a strategy of strengthening positions prior to upcoming negotiations.
Is not yet known whether a talks between Donald Trump and China’s leader, scheduled at a conference in the Republic of Korea later this month, will take place as planned.