Beijing Slams US of ‘Contradictory Stances’ Over Trade Levy Warning

Donald Trump’s most recent warning to impose an further 100% tariff on products from China has been called a “classic case” of United States’ contradictory behavior, according to the China’s leadership.

A representative of the ministry further commented that Beijing could implement its own unspecified “countermeasures” if the White House occupant executes his pledge, adding that the country was “fearless” of a potential trade war.

Last Friday, Donald Trump retaliated at the Chinese government’s action to strengthen its regulations for exports of rare earth minerals, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he vowed to pull out of a planned summit with Beijing’s head of state Xi, which was set for a summit in Seoul in the coming weeks.

Trump’s comments on last Friday rattled stock exchanges, with the S&P 500 dropping nearly three percent, marking its biggest drop since earlier this year.

These statements revived apprehensions of a trade conflict between the US and China.

Earlier this year, the respective governments had consented to drop high import duties on each other’s products, which had created the possibility of commerce ceasing between the economic powers.

As a result, United States levies on Chinese imports facing an extra import tax compared with the year’s onset, while American products entering the Chinese market face a 10% tariff.

Beijing’s recent statements – published by the relevant government department in the form of written responses to media inquiries – reflected rhetoric from the peak of the ongoing trade dispute.

They criticised United States controls on electronic components while supporting the country’s own export controls on rare earth minerals as “standard procedures” to safeguard state interests and that of all nations.

The spokesperson remarked that for “a long time”, the America had “overstretched the concept of state security, abused foreign shipment regulations and “adopted biased policies against the Chinese nation.

“Resorting to import duty warnings is not the right way to deal with the Chinese government,” their representative commented.

“China’s position on a import duty dispute has remained unchanging: we are not seeking one, but we are unafraid of one.”

Recently, Beijing announced it was reinforcing foreign shipment restrictions on rare earth minerals and other materials critical for high-technology production.

This was seen as a significant step, as the nation processes about ninety percent of the global rare earth supply, which are employed in products such as renewable energy components and handheld devices.

Latest statements from both governments are being interpreted by some as a method of bolstering negotiating stances prior to future trade talks.

Remains uncertain whether a talks between Trump and President Xi, planned at a conference in South Korea later this month, will go ahead.