Beijing Slams United States of ‘Double Standards’ Regarding Tariff Threat

Trump’s latest ultimatum to introduce an additional 100% tariff on Chinese goods has been labeled a “typical example” of US double standards, according to the China’s leadership.

A representative of the ministry further commented that China could enact its own undisclosed “responsive actions” if the White House occupant follows through on his warning, adding that the country was “fearless” of a looming trade conflict.

Last Friday, Trump responded at China’s decision to tighten its policies for foreign shipments of rare earths, charging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Additionally, he warned to pull out of a arranged talks with Beijing’s head of state President Xi, which was set for a summit in Seoul later this month.

The former president’s remarks on that day shook stock exchanges, with the S&P 500 closing down nearly three percent, marking its biggest drop since April.

The president’s words reignited fears of a commercial dispute between the two economic giants.

Earlier this year, the both nations had reached an agreement to drop triple-digit tariffs on each other’s products, which had raised the prospect of trade halting between the economic powers.

As a result, United States levies on Chinese imports facing an additional import tax compared with the year’s onset, while American products entering the country are subject to a 10% tariff.

China’s latest remarks – published by the Commerce Ministry in the form of formal replies to press queries – reflected terminology from the height of the latest commercial tensions.

They criticised United States controls on semiconductors and chips while supporting Beijing’s export controls on rare earths as “standard procedures” to ensure national security and that of all nations.

The official said that for “many years”, the United States had “overstretched the concept of state security, exploited overseas sale restrictions and “implemented” unfair treatments against the Chinese nation.

“Turning to” trade levy ultimatums is not the right way to deal with the Chinese government,” the spokesperson commented.

“Beijing’s stance” on a trade conflict has remained steady: we do not want one, but we are fearless of one.”

Recently, China declared it was strengthening overseas sale regulations on key elements and other materials vital for advanced tech manufacturing.

This move was regarded as a significant step, as the state processes about the vast majority of the planet’s critical minerals, which are employed in items such as renewable energy components and handheld devices.

New remarks from Washington and Beijing are being interpreted by observers as a means of strengthening positions in preparation for upcoming negotiations.

Is not yet known whether a talks between Trump and President Xi, expected at a high-level meeting in South Korea later this month, will take place as planned.