Beijing Slams US of ‘Contradictory Stances’ Over Tariff Threat
Trump’s latest warning to introduce an further 100% tariff on items imported from China has been described as a “classic case” of United States’ contradictory behavior, as stated by the China’s leadership.
A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unspecified “countermeasures” if the White House occupant executes his threat, emphasizing that the country was “fearless” of a looming trade war.
On Friday, Donald Trump hit back at China’s decision to tighten its rules for overseas sales of rare earths, accusing China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.
Additionally, he vowed to pull out of a arranged talks with Beijing’s head of state Xi Jinping, which was arranged for a conference in the Republic of Korea later this month.
His statements on that day unsettled global markets, with the S&P 500 falling by nearly three percent, marking its steepest fall since earlier this year.
The president’s words revived apprehensions of a trade war between the US and China.
Earlier this year, the two sides had reached an agreement to drop triple-digit tariffs on each other’s goods, which had created the possibility of commerce ceasing between the two countries.
As a result, US tariffs on products from China incurring an added import tax compared with the year’s onset, while items from the United States entering the Chinese market incur a 10% tariff.
Beijing’s recent statements – released by the relevant government department in the format of written responses to media inquiries – mirrored rhetoric from the peak of the ongoing trade dispute.
They criticised United States controls on electronic components while defending China’s own export controls on rare earth minerals as “normal actions” to ensure state interests and that of all nations.
The spokesperson said that for “an extended period”, the US had “overstretched the concept of state security, abused export control measures and “enforced” biased policies against Beijing.
“Resorting to import duty warnings is not the correct approach to engage with the Chinese government,” their representative said.
“China’s position on a trade conflict has always been consistent: we are not seeking one, but we are unafraid of one.”
Last week, Beijing announced it was reinforcing export controls on rare earths and additional substances vital for high-technology production.
This move was regarded as a significant step, as the nation refines about 90% of the planet’s critical minerals, which are utilized in products such as solar panels and mobile phones.
New remarks from the US and China are being seen by some as a method of strengthening positions ahead of forthcoming discussions.
It is unclear whether a meeting between the former president and President Xi, expected at a summit in South Korea before month’s end, will still proceed.