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

Donald Trump’s newest threat to impose an additional 100% tariff on Chinese goods has been called a “prime illustration” of US double standards, per the Chinese government.

A official from China’s Commerce Ministry also stated that Beijing could enact its own unrevealed “retaliatory steps” if the White House occupant carries out his pledge, adding that the country was “fearless” of a possible trade conflict.

This past Friday, Donald Trump responded at the Chinese government’s action to tighten its rules for exports of critical elements, accusing China of “turning aggressive” and attempting to hold the global community “under its control”.

Furthermore, he warned to cancel a arranged summit with China’s President President Xi, which was set for a summit in South Korea later this month.

The former president’s remarks on Friday shook stock exchanges, with the benchmark US stock index closing down nearly three percent, marking its steepest fall since last spring.

His comments revived fears of a commercial dispute between the US and China.

Earlier this year, the respective governments had agreed to drop high import duties on each other’s goods, which had raised the prospect of trade halting between the two countries.

This left, US tariffs on products from China incurring an added 30% levy compared with the start of the year, while items from the United States entering the country are subject to a 10% tariff.

China’s latest remarks – issued by the Ministry of Commerce in the manner of formal replies to journalist’s questions – reflected language from the peak of the latest commercial tensions.

Officials denounced American limits on exports on semiconductors and chips while defending the country’s own overseas sale regulations on rare earth minerals as “routine measures” to safeguard state interests and that of the global community.

The official stated that for “many years”, the United States had “overstretched the concept of national security, misused foreign shipment regulations and “enforced” unfair treatments against China.

“Using” tariff threats is not the right way to engage with the Chinese government,” the spokesperson commented.

“Beijing’s stance” on a tariff war has remained consistent: we are not seeking one, but we are fearless of one.”

The previous week, Beijing revealed it was reinforcing overseas sale regulations on key elements and other materials vital for advanced tech manufacturing.

This move was regarded as a significant step, as the nation handles about the vast majority of the world’s rare earths, which are used in products such as photovoltaic modules and handheld devices.

The recent comments from both governments are being interpreted by observers as a means of strengthening positions prior to forthcoming discussions.

Is not yet known whether a summit between the former president and China’s leader, planned at a summit in the Republic of Korea before month’s end, will go ahead.