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

Trump’s latest threat to introduce an additional 100% tariff on Chinese goods has been described as a “prime illustration” of United States’ contradictory behavior, according to the Chinese government.

A official from China’s Commerce Ministry further commented that the nation could implement its own unrevealed “responsive actions” if the American leader executes his threat, noting that the country was “fearless” of a looming trade conflict.

Last Friday, Donald Trump responded at the Chinese government’s action to strengthen its regulations for exports of rare earths, charging Beijing of “turning aggressive” and attempting to hold the world “hostage”.

Furthermore, he warned to withdraw from a scheduled summit with Chinese leader Xi, which was arranged for a meeting in South Korea before the month ends.

Trump’s comments on Friday shook global markets, with the S&P 500 share index falling by nearly three percent, marking its largest decline since earlier this year.

His comments renewed fears of a commercial dispute between the United States and China.

In May, the two sides had reached an agreement to remove significant levies on each other’s imports, which had created the possibility of commerce ceasing between the two nations.

This left, United States levies on Chinese imports incurring an extra thirty percent tariff compared with the year’s onset, while items from the United States entering the country face a ten percent duty.

China’s latest remarks – published by the Commerce Ministry in the form of official answers to press queries – mirrored rhetoric from the zenith of the recent trade conflict.

Officials denounced United States controls on chips and semi-conductors while defending China’s own export controls on key elements as “normal actions” to safeguard domestic safety and that of every country.

The spokesperson stated that for “many years”, the United States had “expanded the interpretation” of domestic safety, abused overseas sale restrictions and “adopted unfair treatments against China.

“Using” import duty warnings is not the correct approach to interact with China,” the spokesperson stated.

“The nation’s view” on a tariff war has consistently been consistent: we wish to avoid one, but we are not afraid of one.”

Last week, the Chinese government announced it was tightening export controls on key elements and other materials essential to cutting-edge industry.

This move was regarded as a key move, as the nation refines about the vast majority of the planet’s critical minerals, which are used in goods such as photovoltaic modules and mobile phones.

New remarks from both governments are being seen by observers as a means of strengthening positions ahead of future trade talks.

It is unclear whether a talks between the former president and China’s leader, planned at a high-level meeting in Seoul later this month, will go ahead.

James Fields
James Fields

Professional poker player and strategy analyst with over a decade of experience in high-stakes tournaments and online poker.