Beijing Slams America of ‘Contradictory Stances’ Regarding Tariff Threat

The former US president’s most recent threat to introduce an extra 100% tariff on items imported from China has been labeled a “prime illustration” of US double standards, according to the Beijing administration.

A official from China’s Commerce Ministry further commented that Beijing could introduce its own undisclosed “countermeasures” if the US President follows through on his warning, emphasizing that the country was “not afraid” of a looming trade conflict.

This past Friday, the former president retaliated at the Chinese government’s action to strengthen its rules for exports of rare earth minerals, alleging China of “becoming very hostile” and attempting to hold the global community “hostage”.

Furthermore, he threatened to cancel a scheduled summit with Beijing’s head of state Xi, which was expected to take place during a conference in South Korea before the month ends.

His statements on Friday shook 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 renewed fears of a commercial dispute between the United States and China.

Earlier this year, the respective governments had consented to drop significant levies on each other’s goods, which had led to concerns of trade halting between the two countries.

This left, US tariffs on Chinese goods incurring an additional import tax compared with the year’s onset, while American products entering the country face a ten percent duty.

The most recent comments from China – published by the relevant government department in the manner of official answers to press queries – reflected rhetoric from the height of the latest commercial tensions.

They criticised United States controls on chips and semi-conductors while defending Beijing’s restrictions on exports on key elements as “routine measures” to ensure domestic safety and that of all nations.

The official remarked that for “many years”, the America had “overstretched the concept of national security, exploited export control measures and “enforced” discriminatory practices against Beijing.

“Turning to” trade levy ultimatums is not the correct approach to interact with Beijing,” the spokesperson said.

“China’s position on a import duty dispute has always been unchanging: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government announced it was reinforcing export controls on rare earths and further resources critical for cutting-edge industry.

This move was regarded as a significant step, as the country processes about 90% of the global rare earth supply, which are used in items such as renewable energy components and mobile phones.

The recent comments from the US and China are being viewed by analysts as a strategy of bolstering negotiating stances in preparation for upcoming negotiations.

It is unclear whether a meeting between Donald Trump and President Xi, planned at a conference in Seoul in the coming weeks, will still proceed.