Chinese Government Condemns US of ‘Contradictory Stances’ Over Tariff Threat
Donald Trump’s latest ultimatum to enforce an additional complete levy on items imported from China has been labeled a “typical example” of United States’ contradictory behavior, according to the Chinese government.
A Commerce Ministry spokesperson additionally remarked that China could enact its own unspecified “retaliatory steps” if the American leader carries out his threat, adding that the country was “unafraid” of a looming trade conflict.
On Friday, Trump responded at Beijing’s move to reinforce its policies for foreign shipments of rare earth minerals, accusing China of “turning aggressive” and attempting to hold the global community “under its control”.
He also vowed to withdraw from a arranged meeting with China’s President Xi, which was expected to take place during a summit in Seoul before the month ends.
His statements on that day unsettled financial markets, with the benchmark US stock index closing down nearly three percent, marking its biggest drop since last spring.
His comments reignited concerns of a trade conflict between the US and China.
Earlier this year, the two sides had agreed to drop triple-digit tariffs on each other’s goods, which had created the possibility of trade halting between the economic powers.
As a result, United States levies on products from China facing an extra thirty percent tariff compared with the year’s onset, while items from the United States entering China are subject to a 10% tariff.
Beijing’s recent statements – issued by the relevant government department in the format of written responses to press queries – mirrored rhetoric from the peak of the recent trade conflict.
The remarks condemned United States controls on semiconductors and chips while defending China’s own restrictions on exports on rare earths as “routine measures” to ensure national security and that of the global community.
Their representative stated that for “an extended period”, the United States had “broadened the definition” of national security, misused overseas sale restrictions and “implemented” biased policies against Beijing.
“Using” trade levy ultimatums is not the proper method to interact with China,” their representative said.
“China’s position on a tariff war has consistently been consistent: we do not want one, but we are unafraid of one.”
The previous week, China declared it was tightening overseas sale regulations on key elements and other materials vital for cutting-edge industry.
This was seen as a significant step, as the state refines about ninety percent of the world’s rare earths, which are utilized in products such as photovoltaic modules and mobile phones.
Latest statements from Washington and Beijing are being viewed by observers as a strategy of bolstering negotiating stances prior to upcoming negotiations.
It is unclear whether a talks between Donald Trump and Xi Jinping, scheduled at a high-level meeting in the Republic of Korea in the coming weeks, will take place as planned.
