Beijing Slams US of ‘Contradictory Stances’ Over Tariff Threat

The former US president’s latest ultimatum to introduce an additional full import duty on Chinese goods has been labeled a “typical example” of American hypocrisy, per the Beijing administration.

A official from China’s Commerce Ministry also stated that Beijing could enact its own unspecified “retaliatory steps” if the US President executes his warning, noting that the country was “fearless” of a possible trade war.

Last Friday, Trump retaliated at China’s decision to strengthen its rules for foreign shipments of rare earths, accusing Beijing of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he vowed to withdraw from a scheduled summit with Chinese leader President Xi, which was expected to take place during a summit in Seoul in the coming weeks.

The former president’s remarks on that day rattled global markets, with the S&P 500 share index closing down 2.7%, marking its biggest drop since earlier this year.

These statements revived fears of a trade war between the United States and China.

Earlier this year, the two sides had agreed to eliminate triple-digit tariffs on each other’s goods, which had created the possibility of trade halting between the two countries.

This left, US tariffs on Chinese goods subject to an additional 30% levy compared with the year’s onset, while items from the United States entering the Chinese market incur a ten percent duty.

Beijing’s recent statements – released by the Ministry of Commerce in the manner of formal replies to press queries – mirrored rhetoric from the zenith of the recent trade conflict.

They criticised US export restrictions on electronic components while defending the country’s own restrictions on exports on rare earth minerals as “normal actions” to ensure national security and that of all nations.

Their representative remarked that for “a long time”, the United States had “overstretched the concept of national security, misused export control measures and “implemented” unfair treatments against China.

“Using” import duty warnings is not the right way to interact with the Chinese government,” the spokesperson stated.

“Beijing’s stance” on a trade conflict has always been steady: we wish to avoid one, but we are not afraid of one.”

Last week, the Chinese government announced it was strengthening export controls on rare earths and other materials essential to high-technology production.

This was seen as a important measure, as the nation handles about the vast majority of the planet’s critical minerals, which are utilized in items such as solar panels and handheld devices.

Latest statements from both governments are being viewed by observers as a method of bolstering negotiating stances ahead of forthcoming discussions.

It is unclear whether a meeting between Trump and President Xi, expected at a summit in Seoul later this month, will still proceed.