China Accuses America of ‘Contradictory Stances’ Over Trade Levy Warning

Trump’s latest threat to enforce an extra full import duty on products from China has been called a “typical example” of US double standards, as stated by the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that China could introduce its own undisclosed “responsive actions” if the American leader carries out his pledge, emphasizing that the country was “not afraid” of a potential trade war.

On Friday, Donald Trump retaliated at Beijing’s move to strengthen its policies for overseas sales of rare earth minerals, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “under its control”.

Additionally, he warned to withdraw from a arranged summit with China’s President Xi Jinping, which was arranged for a meeting in the Republic of Korea before the month ends.

Trump’s comments on last Friday unsettled financial markets, with the S&P 500 closing down nearly three percent, marking its biggest drop since last spring.

The president’s words revived fears of a trade war between the United States and China.

This past spring, the two sides had reached an agreement to drop high import duties on each other’s imports, which had created the possibility of trade halting between the economic powers.

As a result, American import duties on products from China facing an additional thirty percent tariff compared with the year’s onset, while items from the United States entering the Chinese market are subject to a import levy.

China’s latest remarks – issued by the relevant government department in the manner of official answers to journalist’s questions – reflected rhetoric from the zenith of the ongoing trade dispute.

Officials denounced US export restrictions on semiconductors and chips while defending the country’s own overseas sale regulations on rare earth minerals as “normal actions” to protect national security and that of all nations.

Their representative remarked that for “a long time”, the US had “expanded the interpretation” of national security, exploited export control measures and “implemented” unfair treatments against Beijing.

“Turning to” tariff threats is not the correct approach to engage with Beijing,” the spokesperson stated.

“China’s position on a trade conflict has consistently been steady: we are not seeking one, but we are not afraid of one.”

Recently, China revealed it was reinforcing foreign shipment restrictions on rare earth minerals and further resources critical for advanced tech manufacturing.

This was seen as a important measure, as the state handles about the vast majority of the planet’s critical minerals, which are used in items such as renewable energy components and handheld devices.

New remarks from both governments are being viewed by analysts as a strategy of enhancing bargaining power ahead of upcoming negotiations.

Is not yet known whether a summit between Trump and China’s leader, expected at a summit in the Republic of Korea later this month, will still proceed.