Chinese Government Condemns America of ‘Double Standards’ Concerning Trade Levy Warning

Donald Trump’s latest warning to introduce an extra complete levy on Chinese goods has been called a “classic case” of American hypocrisy, as stated by the Chinese government.

A representative of the ministry further commented that the nation could enact its own undisclosed “countermeasures” if the American leader follows through on his warning, noting that the country was “not afraid” of a possible trade conflict.

Last Friday, Trump hit back at Beijing’s move to reinforce its regulations for exports of rare earths, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “captive”.

He also threatened to pull out of a planned talks with Chinese leader Xi Jinping, which was arranged for a meeting in Seoul later this month.

The former president’s remarks on that day rattled financial markets, with the S&P 500 closing down over two and a half percent, marking its largest decline since April.

The president’s words reignited fears of a trade war between the two economic giants.

Earlier this year, the two sides had reached an agreement to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of commerce ceasing between the two nations.

Consequently, United States levies on products from China subject to an added thirty percent tariff compared with the year’s onset, while items from the United States entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – published by the Ministry of Commerce in the manner of official answers to media inquiries – reflected language from the height of the ongoing trade dispute.

The remarks condemned American limits on exports on chips and semi-conductors while justifying China’s own export controls on rare earths as “standard procedures” to protect domestic safety and that of the global community.

Their representative said that for “many years”, the US had “broadened the definition” of state security, abused overseas sale restrictions and “implemented” unfair treatments against China.

“Resorting to tariff threats is not the proper method to deal with Beijing,” their representative commented.

“China’s position on a trade conflict has always been steady: we wish to avoid one, but we are unafraid of one.”

Recently, Beijing announced it was reinforcing overseas sale regulations on key elements and other materials vital for high-technology production.

The action was viewed as a key move, as the state refines about the vast majority of the global rare earth supply, which are used in goods such as photovoltaic modules and handheld devices.

Latest statements from the US and China are being seen by analysts as a means of enhancing bargaining power prior to future trade talks.

Remains uncertain whether a meeting between the former president and Xi Jinping, planned at a summit in South Korea before month’s end, will take place as planned.