Beijing Slams US of ‘Double Standards’ Over Import Duty Ultimatum

Donald Trump’s newest threat to impose an extra 100% tariff on Chinese goods has been labeled a “typical example” of American hypocrisy, as stated by the Chinese government.

A Commerce Ministry spokesperson also stated that China could introduce its own unspecified “countermeasures” if the US President executes his warning, adding that the country was “not afraid” of a looming trade war.

On Friday, the former president hit back at China’s decision to reinforce its regulations for exports of rare earth minerals, alleging Beijing of “turning aggressive” and attempting to hold the global community “captive”.

He also vowed to pull out of a scheduled meeting with China’s President President Xi, which was set for a summit in the Republic of Korea later this month.

His statements on last Friday shook global markets, with the S&P 500 share index falling by 2.7%, marking its largest decline since earlier this year.

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

This past spring, the respective governments had consented to drop significant levies on each other’s products, which had raised the prospect of commerce ceasing between the two countries.

This left, American import duties on Chinese imports subject to an additional import tax compared with the year’s onset, while US goods entering China incur a import levy.

The most recent comments from China – released by the Commerce Ministry in the form of written responses to press queries – echoed rhetoric from the peak of the ongoing trade dispute.

Officials denounced American limits on exports on chips and semi-conductors while supporting Beijing’s export controls on rare earth minerals as “normal actions” to protect state interests and that of all nations.

Their representative said that for “many years”, the America had “expanded the interpretation” of domestic safety, exploited export control measures and “enforced” discriminatory practices against China.

“Using” import duty warnings is not the correct approach to engage with the Chinese government,” their representative stated.

“Beijing’s stance” on a import duty dispute has consistently been steady: we do not want one, but we are fearless of one.”

Recently, Beijing revealed it was tightening export controls on key elements and other materials vital for advanced tech manufacturing.

This move was regarded as a important measure, as the country handles about the vast majority of the global rare earth supply, which are utilized in items such as renewable energy components and mobile phones.

New remarks from both governments are being viewed by some as a means of bolstering negotiating stances prior to future trade talks.

Remains uncertain whether a meeting between Trump and Xi Jinping, expected at a summit in Seoul before month’s end, will still proceed.