Chinese Government Condemns America of ‘Hypocritical Policies’ Concerning Import Duty Ultimatum

Trump’s latest threat to introduce an further full import duty on products from China has been described as a “prime illustration” of US double standards, according to the China’s leadership.

A representative of the ministry additionally remarked that Beijing could introduce its own unspecified “responsive actions” if the US President follows through on his threat, adding that the country was “unafraid” of a potential trade war.

This past Friday, the former president hit back at Beijing’s move to reinforce its policies for overseas sales of critical elements, accusing China of “adopting a confrontational stance” and attempting to hold the world “hostage”.

He also vowed to cancel a planned meeting with Chinese leader Xi, which was arranged for a summit in the Republic of Korea later this month.

His statements on that day shook financial markets, with the S&P 500 closing down 2.7%, marking its steepest fall since April.

His comments renewed apprehensions of a commercial dispute between the two economic giants.

In May, the both nations had consented to drop high import duties on each other’s imports, which had created the possibility of bilateral trade stopping between the two nations.

As a result, US tariffs on Chinese goods subject to an additional 30% levy compared with the year’s onset, while American products entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – released by the Commerce Ministry in the format of formal replies to media inquiries – echoed language from the zenith of the latest commercial tensions.

They criticised US export restrictions on electronic components while justifying China’s own overseas sale regulations on key elements as “routine measures” to protect state interests and that of every country.

The official stated that for “an extended period”, the US had “broadened the definition” of national security, misused overseas sale restrictions and “enforced” unfair treatments against China.

“Turning to” import duty warnings is not the right way to engage with China,” the official commented.

“The nation’s view” on a trade conflict has always been steady: we do not want one, but we are fearless of one.”

Last week, Beijing revealed it was tightening foreign shipment restrictions on key elements and additional substances essential to high-technology production.

This was seen as a important measure, as the country processes about the vast majority of the planet’s critical minerals, which are utilized in goods such as photovoltaic modules and mobile phones.

New remarks from the US and China are being viewed by some as a method of bolstering negotiating stances ahead of forthcoming discussions.

Is not yet known whether a meeting between Trump and Xi Jinping, expected at a high-level meeting in Seoul in the coming weeks, will go ahead.