Beijing Slams US of ‘Double Standards’ Over Import Duty Ultimatum

Donald Trump’s newest warning to impose an additional full import duty on products from China has been labeled a “typical example” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson also stated that China could introduce its own unrevealed “responsive actions” if the White House occupant executes his threat, adding that the country was “not afraid” of a possible trade war.

Last Friday, Trump hit back at Beijing’s move to tighten its policies for foreign shipments of rare earth minerals, accusing Beijing of “adopting a confrontational stance” and attempting to hold the international market “hostage”.

Furthermore, he threatened to withdraw from a planned summit with Beijing’s head of state Xi Jinping, which was set for a meeting in Seoul in the coming weeks.

Trump’s comments on that day rattled global markets, with the S&P 500 share index dropping over two and a half percent, marking its largest decline since April.

The president’s words renewed concerns of a trade war between the two economic giants.

In May, the respective governments had agreed to drop significant levies on each other’s products, which had led to concerns of trade halting between the economic powers.

As a result, United States levies on Chinese imports facing an added thirty percent tariff compared with the start of the year, while items from the United States entering the Chinese market incur a ten percent duty.

China’s latest remarks – released by the relevant government department in the form of written responses to media inquiries – mirrored language from the height of the ongoing trade dispute.

They criticised American limits on exports on electronic components while defending Beijing’s restrictions on exports on rare earths as “normal actions” to ensure national security and that of the global community.

Their representative remarked that for “an extended period”, the US had “broadened the definition” of national security, exploited export control measures and “enforced” discriminatory practices against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to engage with Beijing,” the official stated.

“Beijing’s stance” on a trade conflict has always been unchanging: we do not want one, but we are not afraid of one.”

Last week, China declared it was strengthening foreign shipment restrictions on key elements and other materials essential to cutting-edge industry.

This was seen as a significant step, as the state handles about ninety percent of the global rare earth supply, which are utilized in goods such as renewable energy components and handheld devices.

Latest statements from the US and China are being seen by analysts as a means of strengthening positions in preparation for upcoming negotiations.

Remains uncertain whether a summit between the former president and Xi Jinping, scheduled at a summit in the Republic of Korea before month’s end, will take place as planned.