Beijing Slams America of ‘Contradictory Stances’ Over Tariff Threat
The former US president’s latest warning to impose an extra complete levy on Chinese goods has been labeled a “typical example” of United States’ contradictory behavior, as stated by the Beijing administration.
A official from China’s Commerce Ministry further commented that China could implement its own undisclosed “responsive actions” if the US President executes his threat, noting that the country was “fearless” of a potential commercial battle.
Last Friday, Donald Trump retaliated at the Chinese government’s action to tighten its rules for exports of rare earth minerals, alleging the Chinese leadership of “becoming very hostile” and attempting to hold the global community “hostage”.
He also warned to withdraw from a arranged talks with Chinese leader Xi Jinping, which was arranged for a meeting in the Republic of Korea in the coming weeks.
His statements on that day unsettled global markets, with the S&P 500 share index falling by nearly three percent, marking its largest decline since earlier this year.
His comments revived apprehensions of a trade war between the US and China.
Earlier this year, the respective governments had consented to eliminate significant levies on each other’s products, which had led to concerns of bilateral trade stopping between the economic powers.
This left, US tariffs on Chinese goods subject to an extra import tax compared with the start of the year, while American products entering the Chinese market are subject to a 10% tariff.
Beijing’s recent statements – released by the Ministry of Commerce in the form of official answers to media inquiries – reflected language from the height of the latest commercial tensions.
The remarks condemned United States controls on chips and semi-conductors while supporting Beijing’s restrictions on exports on key elements as “normal actions” to safeguard national security and that of the global community.
The official remarked that for “a long time”, the US had “overstretched the concept of domestic safety, exploited foreign shipment regulations and “enforced” unfair treatments against Beijing.
“Resorting to tariff threats is not the right way to deal with China,” the official stated.
“The nation’s view” on a tariff war has always been unchanging: we wish to avoid one, but we are unafraid of one.”
Recently, Beijing announced it was tightening export controls on key elements and additional substances essential to cutting-edge industry.
The action was viewed as a key move, as the country processes about ninety percent of the planet’s critical minerals, which are used in items such as photovoltaic modules and smartphones.
The recent comments from the US and China are being viewed by some as a method of bolstering negotiating stances in preparation for upcoming negotiations.
Is not yet known whether a summit between Trump and Xi Jinping, expected at a summit in Seoul before month’s end, will go ahead.
