Beijing Slams United States of ‘Contradictory Stances’ Over Trade Levy Warning

The former US president’s latest warning to impose an additional full import duty on Chinese goods has been labeled a “classic case” of US double standards, per the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could introduce its own undisclosed “responsive actions” if the White House occupant follows through on his pledge, noting that the country was “fearless” of a possible commercial battle.

Last Friday, the former president hit back at Beijing’s move to tighten its policies for foreign shipments of critical elements, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

He also threatened to withdraw from a arranged meeting with Beijing’s head of state President Xi, which was expected to take place during a conference in the Republic of Korea before the month ends.

His statements on last Friday rattled global markets, with the S&P 500 falling by 2.7%, marking its steepest fall since last spring.

These statements renewed concerns of a commercial dispute between the US and China.

Earlier this year, the two sides had reached an agreement to drop significant levies on each other’s goods, which had created the possibility of trade halting between the two countries.

As a result, United States levies on Chinese imports facing an added import tax compared with the year’s onset, while American products entering the Chinese market face a import levy.

Beijing’s recent statements – released by the Commerce Ministry in the manner of formal replies to press queries – mirrored terminology from the zenith of the latest commercial tensions.

Officials denounced United States controls on chips and semi-conductors while justifying the country’s own overseas sale regulations on key elements as “standard procedures” to safeguard state interests and that of every country.

The official remarked that for “an extended period”, the America had “overstretched the concept of national security, exploited foreign shipment regulations and “enforced” unfair treatments against Beijing.

“Turning to” tariff threats is not the right way to engage with Beijing,” the official commented.

“The nation’s view” on a tariff war has consistently been steady: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government revealed it was tightening foreign shipment restrictions on key elements and additional substances critical for high-technology production.

This move was regarded as a significant step, as the state refines about ninety percent of the world’s rare earths, which are employed in products such as photovoltaic modules and handheld devices.

Latest statements from Washington and Beijing are being seen by observers as a strategy of bolstering negotiating stances ahead of forthcoming discussions.

It is unclear whether a summit between Donald Trump and Xi Jinping, expected at a high-level meeting in South Korea before month’s end, will go ahead.