Beijing Slams US of ‘Contradictory Stances’ Over Import Duty Ultimatum

The former US president’s latest ultimatum to enforce an extra complete levy on items imported from China has been described as a “typical example” of American hypocrisy, as stated by the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that the nation could implement its own undisclosed “retaliatory steps” if the US President carries out his warning, adding that the country was “not afraid” of a potential trade war.

On Friday, Donald Trump retaliated at China’s decision to tighten its policies for exports of rare earths, charging China of “adopting a confrontational stance” and attempting to hold the world “under its control”.

He also warned to withdraw from a scheduled summit with Chinese leader President Xi, which was set for a meeting in the Republic of Korea in the coming weeks.

Trump’s comments on that day unsettled stock exchanges, with the S&P 500 share index dropping 2.7%, marking its largest decline since April.

His comments reignited apprehensions of a trade conflict between the United States and China.

This past spring, the respective governments had reached an agreement to remove high import duties 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 added thirty percent tariff compared with the year’s onset, while items from the United States entering the country incur a import levy.

China’s latest remarks – issued by the Ministry of Commerce in the manner of official answers to press queries – mirrored rhetoric from the height of the latest commercial tensions.

The remarks condemned American limits on exports on electronic components while justifying Beijing’s restrictions on exports on rare earth minerals as “routine measures” to safeguard national security and that of the global community.

The official said that for “many years”, the America had “expanded the interpretation” of state security, exploited foreign shipment regulations and “enforced” discriminatory practices against Beijing.

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

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

Recently, China revealed it was strengthening foreign shipment restrictions on rare earth minerals and other materials vital for high-technology production.

This move was regarded as a key move, as the nation processes about ninety percent of the world’s rare earths, which are used in products such as solar panels and mobile phones.

The recent comments from Washington and Beijing are being viewed by analysts as a means of enhancing bargaining power ahead of future trade talks.

Is not yet known whether a summit between the former president and Xi Jinping, planned at a high-level meeting in Seoul before month’s end, will take place as planned.