Chinese Government Condemns US of ‘Hypocritical Policies’ Over Tariff Threat
Donald Trump’s most recent ultimatum to enforce an additional full import duty on Chinese goods has been described as a “typical example” of American hypocrisy, according to the Chinese government.
A representative of the ministry additionally remarked that the nation could enact its own unspecified “countermeasures” if the White House occupant carries out his pledge, noting that the country was “unafraid” of a possible commercial battle.
Last Friday, Trump hit back at Beijing’s move to tighten its regulations for exports of critical elements, alleging the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.
Additionally, he warned to pull out of a scheduled talks with China’s President Xi Jinping, which was arranged for a conference in Seoul later this month.
The former president’s remarks on Friday rattled global markets, with the benchmark US stock index falling by 2.7%, marking its steepest fall since earlier this year.
The president’s words renewed concerns of a trade war between the US and China.
This past spring, the two sides had consented to drop significant levies on each other’s imports, which had led to concerns of bilateral trade stopping between the two countries.
As a result, American import duties on Chinese goods incurring an extra import tax compared with the year’s onset, while items from the United States entering China are subject to a import levy.
Beijing’s recent statements – issued by the relevant government department in the form of written responses to journalist’s questions – mirrored terminology from the height of the recent trade conflict.
Officials denounced United States controls on electronic components while defending Beijing’s restrictions on exports on key elements as “normal actions” to protect domestic safety and that of every country.
The official said that for “many years”, the US had “expanded the interpretation” of national security, misused export control measures and “enforced” unfair treatments against the Chinese nation.
“Using” import duty warnings is not the correct approach to engage with China,” the official stated.
“China’s position on a import duty dispute has consistently been steady: we do not want one, but we are not afraid of one.”
Last week, Beijing announced it was strengthening overseas sale regulations on rare earths and further resources essential to advanced tech manufacturing.
The action was viewed as a key move, as the country processes about 90% of the planet’s critical minerals, which are utilized in products such as solar panels and mobile phones.
Latest statements from both governments are being interpreted by some as a method of bolstering negotiating stances ahead of future trade talks.
It is unclear whether a summit between the former president and President Xi, planned at a summit in the Republic of Korea later this month, will take place as planned.