Beijing Slams United States of ‘Double Standards’ Regarding Trade Levy Warning

The former US president’s newest ultimatum to impose an extra full import duty on Chinese goods has been described as a “classic case” of United States’ contradictory behavior, according to the Beijing administration.

A representative of the ministry further commented that China could enact its own undisclosed “countermeasures” if the American leader executes his pledge, emphasizing that the country was “not afraid” of a potential commercial battle.

On Friday, the former president responded at China’s decision to tighten its rules for overseas sales of critical elements, charging China of “turning aggressive” and attempting to hold the world “captive”.

Additionally, he vowed to pull out of a planned meeting with Beijing’s head of state Xi Jinping, which was expected to take place during a summit in the Republic of Korea in the coming weeks.

The former president’s remarks on last Friday rattled stock exchanges, with the benchmark US stock index falling by over two and a half percent, marking its largest decline since earlier this year.

The president’s words revived concerns of a commercial dispute between the two economic giants.

In May, the two sides had agreed to drop high import duties on each other’s products, which had led to concerns of trade halting between the economic powers.

Consequently, US tariffs on Chinese goods facing an added 30% levy compared with the start of the year, while US goods entering the Chinese market incur a import levy.

The most recent comments from China – issued by the relevant government department in the format of official answers to journalist’s questions – reflected terminology from the peak of the ongoing trade dispute.

Officials denounced United States controls on semiconductors and chips while supporting the country’s own overseas sale regulations on rare earth minerals as “normal actions” to protect domestic safety and that of the global community.

The spokesperson said that for “many years”, the United States had “overstretched the concept of national security, misused overseas sale restrictions and “implemented” biased policies against the Chinese nation.

“Resorting to tariff threats is not the proper method to deal with the Chinese government,” the official stated.

“Beijing’s stance” on a trade conflict has always been unchanging: we wish to avoid one, but we are unafraid of one.”

Recently, the Chinese government announced it was tightening overseas sale regulations on rare earth minerals and further resources critical for high-technology production.

This move was regarded as a significant step, as the nation processes about 90% of the planet’s critical minerals, which are employed in products such as solar panels and smartphones.

The recent comments from both governments are being viewed by analysts as a means of strengthening positions prior to upcoming negotiations.

It is unclear whether a talks between the former president and China’s leader, expected at a summit in the Republic of Korea later this month, will take place as planned.

Kimberly Owens
Kimberly Owens

Eleanor is a freelance food writer and urban gardener based in East London.