China Accuses America of ‘Double Standards’ Over Trade Levy Warning

The former US president’s most recent ultimatum to enforce an additional full import duty on products from China has been called a “prime illustration” of United States’ contradictory behavior, per the China’s leadership.

A official from China’s Commerce Ministry further commented that the nation could implement its own undisclosed “retaliatory steps” if the White House occupant follows through on his pledge, adding that the country was “unafraid” of a potential commercial battle.

On Friday, the former president retaliated at China’s decision to reinforce its rules for overseas sales of rare earths, alleging Beijing of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

Furthermore, he warned to withdraw from a planned meeting with China’s President President Xi, which was expected to take place during a meeting in Seoul later this month.

The former president’s remarks on that day shook stock exchanges, with the S&P 500 falling by nearly three percent, marking its largest decline since April.

These statements reignited apprehensions of a trade war between the US and China.

Earlier this year, the two sides had consented to remove significant levies on each other’s products, which had led to concerns of bilateral trade stopping between the two countries.

Consequently, United States levies on Chinese goods facing an extra thirty percent tariff compared with the year’s onset, while American products entering China incur a 10% tariff.

The most recent comments from China – published by the relevant government department in the format of written responses to journalist’s questions – mirrored rhetoric from the height of the latest commercial tensions.

The remarks condemned United States controls on semiconductors and chips while supporting the country’s own overseas sale regulations on rare earth minerals as “standard procedures” to ensure domestic safety and that of all nations.

The official remarked that for “an extended period”, the America had “overstretched the concept of state security, exploited export control measures and “implemented” biased policies against the Chinese nation.

“Turning to” tariff threats is not the right way to interact with the Chinese government,” the spokesperson said.

“The nation’s view” on a trade conflict has remained steady: we are not seeking one, but we are not afraid of one.”

The previous week, the Chinese government announced it was strengthening export controls on rare earths and further resources critical for high-technology production.

This was seen as a important measure, as the country processes about the vast majority of the planet’s critical minerals, which are utilized in goods such as solar panels and smartphones.

New remarks from the US and China are being interpreted by analysts as a means of strengthening positions in preparation for forthcoming discussions.

It is unclear whether a talks between the former president and Xi Jinping, planned at a high-level meeting in South Korea before month’s end, will go ahead.

David Thompson
David Thompson

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