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

Trump’s newest warning to introduce an extra complete levy on Chinese goods has been labeled a “prime illustration” of United States’ contradictory behavior, as stated by the Chinese government.

A Commerce Ministry spokesperson further commented that the nation could enact its own undisclosed “responsive actions” if the US President follows through on his threat, emphasizing that the country was “unafraid” of a looming commercial battle.

On Friday, Donald Trump retaliated at the Chinese government’s action to tighten its regulations for overseas sales of rare earths, accusing China of “turning aggressive” and attempting to hold the international market “captive”.

Furthermore, he warned to withdraw from a planned meeting with China’s President Xi, which was set for a meeting in the Republic of Korea in the coming weeks.

Trump’s comments on that day shook financial markets, with the benchmark US stock index dropping over two and a half percent, marking its largest decline since April.

His comments renewed fears of a trade war between the United States and China.

Earlier this year, the two sides had consented to remove significant levies on each other’s goods, which had created the possibility of trade halting between the two nations.

As a result, United States levies on Chinese goods subject to an extra import tax compared with the start of the year, while American products entering China incur a 10% tariff.

China’s latest remarks – released by the Ministry of Commerce in the form of written responses to journalist’s questions – reflected rhetoric from the peak of the latest commercial tensions.

The remarks condemned United States controls on chips and semi-conductors while supporting Beijing’s export controls on key elements as “standard procedures” to safeguard national security and that of every country.

Their representative stated that for “a long time”, the America had “expanded the interpretation” of domestic safety, abused export control measures and “enforced” unfair treatments against the Chinese nation.

“Resorting to tariff threats is not the correct approach to deal with Beijing,” the official commented.

“China’s position on a import duty dispute has remained consistent: we do not want one, but we are not afraid of one.”

Recently, China announced it was strengthening overseas sale regulations on rare earths and additional substances essential to cutting-edge industry.

This move was regarded as a important measure, as the country processes about ninety percent of the planet’s critical minerals, which are utilized in products such as renewable energy components and mobile phones.

Latest statements from both governments are being seen by some as a strategy of strengthening positions ahead of upcoming negotiations.

It is unclear whether a summit between the former president and China’s leader, planned at a high-level meeting in South Korea in the coming weeks, will go ahead.