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

Donald Trump’s most recent ultimatum to impose an further complete levy on items imported from China has been described as a “classic case” of US double standards, per the Beijing administration.

A representative of the ministry also stated that Beijing could enact its own unspecified “retaliatory steps” if the American leader carries out his warning, adding that the country was “not afraid” of a looming trade conflict.

On Friday, the former president hit back at the Chinese government’s action to reinforce its policies for overseas sales of rare earth minerals, charging China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

Furthermore, he warned to withdraw from a scheduled meeting with Beijing’s head of state Xi Jinping, which was expected to take place during a summit in the Republic of Korea later this month.

Trump’s comments on that day shook global markets, with the S&P 500 share index closing down 2.7%, marking its steepest fall since last spring.

The president’s words renewed apprehensions of a trade conflict between the US and China.

Earlier this year, the two sides had agreed to eliminate triple-digit tariffs on each other’s products, which had led to concerns of trade halting between the two nations.

As a result, United States levies on products from China incurring an additional 30% levy compared with the year’s onset, while items from the United States entering China are subject to a 10% tariff.

Beijing’s recent statements – released by the Ministry of Commerce in the format of written responses to media inquiries – mirrored language from the zenith of the latest commercial tensions.

The remarks condemned United States controls on semiconductors and chips while supporting the country’s own export controls on rare earth minerals as “routine measures” to protect domestic safety and that of all nations.

The official stated that for “many years”, the US had “expanded the interpretation” of state security, abused foreign shipment regulations and “adopted biased policies against Beijing.

“Using” import duty warnings is not the right way to interact with Beijing,” their representative said.

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

Recently, the Chinese government declared it was tightening foreign shipment restrictions on rare earth minerals and additional substances essential to cutting-edge industry.

This was seen as a significant step, as the country handles about the vast majority of the world’s rare earths, which are employed in goods such as photovoltaic modules and mobile phones.

New remarks from both governments are being interpreted by observers as a strategy of strengthening positions in preparation for upcoming negotiations.

Is not yet known whether a meeting between Trump and President Xi, planned at a summit in the Republic of Korea in the coming weeks, will still proceed.