China Accuses US of ‘Hypocritical Policies’ Concerning Trade Levy Warning

Trump’s newest ultimatum to introduce an further complete levy on items imported from China has been described as a “prime illustration” of US double standards, according to the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that Beijing could implement its own unrevealed “countermeasures” if the US President executes his warning, emphasizing that the country was “unafraid” of a possible trade war.

Last Friday, Donald Trump hit back at Beijing’s move to tighten its rules for foreign shipments of rare earths, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “hostage”.

He also warned to cancel a scheduled meeting with Chinese leader President Xi, which was set for a conference in the Republic of Korea before the month ends.

His statements on that day shook global markets, with the benchmark US stock index closing down nearly three percent, marking its steepest fall since last spring.

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

Earlier this year, the both nations had consented to eliminate triple-digit tariffs on each other’s imports, which had raised the prospect of trade halting between the two nations.

Consequently, US tariffs on Chinese goods facing an extra 30% levy compared with the year’s onset, while US goods entering the Chinese market incur a ten percent duty.

China’s latest remarks – released by the Ministry of Commerce in the manner of written responses to media inquiries – mirrored terminology from the zenith of the ongoing trade dispute.

The remarks condemned US export restrictions on electronic components while justifying the country’s own export controls on key elements as “normal actions” to protect national security and that of every country.

The official remarked that for “a long time”, the United States had “broadened the definition” of state security, misused overseas sale restrictions and “enforced” biased policies against Beijing.

“Using” tariff threats is not the correct approach to deal with China,” the official said.

“Beijing’s stance” on a tariff war has always been unchanging: we wish to avoid one, but we are fearless of one.”

The previous week, the Chinese government revealed it was tightening overseas sale regulations on key elements and other materials essential to cutting-edge industry.

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

Latest statements from the US and China are being seen by some as a means of enhancing bargaining power in preparation for upcoming negotiations.

Is not yet known whether a talks between Donald Trump and China’s leader, expected at a high-level meeting in South Korea later this month, will still proceed.