Beijing Slams United States of ‘Hypocritical Policies’ Concerning Import Duty Ultimatum

Donald Trump’s most recent threat to enforce an extra full import duty on products from China has been called a “classic case” of United States’ contradictory behavior, per the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that the nation could introduce its own unspecified “responsive actions” if the US President carries out his threat, noting that the country was “unafraid” of a possible trade war.

Last Friday, Trump responded at Beijing’s move to reinforce its rules for overseas sales of rare earths, alleging the Chinese leadership of “turning aggressive” and attempting to hold the world “under its control”.

He also threatened to pull out of a planned summit with Beijing’s head of state President Xi, which was set for a meeting in South Korea before the month ends.

The former president’s remarks on last Friday unsettled financial markets, with the benchmark US stock index closing down over two and a half percent, marking its steepest fall since last spring.

The president’s words revived apprehensions of a trade war between the US and China.

In May, the respective governments had consented to eliminate high import duties on each other’s products, which had raised the prospect of commerce ceasing between the two countries.

Consequently, American import duties on Chinese goods incurring an extra import tax compared with the start of the year, while American products entering the Chinese market incur a import levy.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of official answers to press queries – mirrored rhetoric from the height of the recent trade conflict.

Officials denounced American limits on exports on electronic components while supporting China’s own restrictions on exports on key elements as “standard procedures” to ensure state interests and that of all nations.

The official said that for “an extended period”, the US had “broadened the definition” of state security, exploited foreign shipment regulations and “implemented” unfair treatments against the Chinese nation.

“Using” tariff threats is not the proper method to deal with China,” the official said.

“Beijing’s stance” on a tariff war has always been consistent: we do not want one, but we are fearless of one.”

Last week, China announced it was tightening export controls on key elements and additional substances essential to high-technology production.

This move was regarded as a important measure, as the nation processes about the vast majority of the world’s rare earths, which are used in goods such as photovoltaic modules and mobile phones.

The recent comments from both governments are being interpreted by observers as a means of enhancing bargaining power prior to forthcoming discussions.

Is not yet known whether a summit between Donald Trump and President Xi, scheduled at a conference in Seoul later this month, will still proceed.