Beijing Slams America of ‘Hypocritical Policies’ Concerning Import Duty Ultimatum

The former US president’s latest threat to enforce an extra 100% tariff on items imported from China has been called a “typical example” of United States’ contradictory behavior, as stated by the Chinese government.

A official from China’s Commerce Ministry also stated that China could enact its own unrevealed “responsive actions” if the White House occupant executes his pledge, noting that the country was “unafraid” of a potential trade conflict.

Last Friday, Trump hit back at Beijing’s move to tighten its rules for foreign shipments of rare earths, alleging Beijing of “becoming very hostile” and attempting to hold the global community “captive”.

He also warned to cancel a arranged summit with Chinese leader President Xi, which was set for a conference in the Republic of Korea in the coming weeks.

His statements on that day rattled financial markets, with the benchmark US stock index falling by 2.7%, marking its steepest fall since last spring.

These statements revived apprehensions of a trade war between the United States and China.

In May, the respective governments had agreed to eliminate triple-digit tariffs on each other’s imports, which had created the possibility of bilateral trade stopping between the two countries.

This left, US tariffs on products from China incurring an additional import tax compared with the year’s onset, while American products entering the country incur a 10% tariff.

China’s latest remarks – issued by the relevant government department in the format of official answers to media inquiries – mirrored terminology from the peak of the latest commercial tensions.

Officials denounced US export restrictions on chips and semi-conductors while supporting the country’s own restrictions on exports on rare earth minerals as “normal actions” to safeguard domestic safety and that of all nations.

The spokesperson said that for “many years”, the United States had “broadened the definition” of national security, abused overseas sale restrictions and “adopted discriminatory practices against China.

“Using” tariff threats is not the correct approach to deal with Beijing,” the spokesperson commented.

“Beijing’s stance” on a import duty dispute has consistently been consistent: we do not want one, but we are fearless of one.”

Last week, Beijing declared it was reinforcing overseas sale regulations on key elements and additional substances vital for high-technology production.

The action was viewed as a significant step, as the country refines about ninety percent of the world’s rare earths, which are used in products such as renewable energy components and handheld devices.

The recent comments from both governments are being viewed by some as a strategy of bolstering negotiating stances prior to future trade talks.

Is not yet known whether a talks between Donald Trump and President Xi, scheduled at a summit in South Korea in the coming weeks, will take place as planned.