China Accuses United States of ‘Contradictory Stances’ Concerning Tariff Threat

Donald Trump’s latest threat to enforce an further complete levy on products from China has been labeled a “typical example” of United States’ contradictory behavior, as stated by the Chinese government.

A Commerce Ministry spokesperson also stated that China could implement its own undisclosed “countermeasures” if the White House occupant carries out his pledge, adding that the country was “not afraid” of a looming trade war.

This past Friday, the former president responded at Beijing’s move to reinforce its policies for exports of rare earths, alleging the Chinese leadership of “turning aggressive” and attempting to hold the international market “captive”.

Furthermore, he warned to pull out of a arranged summit with Chinese leader President Xi, which was expected to take place during a meeting in South Korea later this month.

The former president’s remarks on last Friday shook global markets, with the S&P 500 dropping nearly three percent, marking its largest decline since earlier this year.

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

This past spring, the respective governments had reached an agreement to eliminate triple-digit tariffs on each other’s goods, which had raised the prospect of trade halting between the two countries.

Consequently, US tariffs on Chinese goods subject to an additional import tax compared with the start of the year, while US goods entering the Chinese market face a import levy.

Beijing’s recent statements – published by the Commerce Ministry in the manner of formal replies to journalist’s questions – mirrored terminology from the height of the recent trade conflict.

Officials denounced US export restrictions on chips and semi-conductors while supporting Beijing’s export controls on rare earths as “normal actions” to safeguard domestic safety and that of the global community.

The spokesperson stated that for “many years”, the America had “broadened the definition” of domestic safety, misused foreign shipment regulations and “adopted discriminatory practices against China.

“Turning to” tariff threats is not the right way to deal with Beijing,” the official commented.

“The nation’s view” on a tariff war has consistently been unchanging: we wish to avoid one, but we are fearless of one.”

Recently, the Chinese government revealed it was strengthening export controls on key elements and additional substances vital for cutting-edge industry.

This was seen as a significant step, as the nation refines about the vast majority of the global rare earth supply, which are utilized in goods such as solar panels and mobile phones.

New remarks from both governments are being viewed by analysts as a method of bolstering negotiating stances in preparation for future trade talks.

Is not yet known whether a talks between Trump and China’s leader, scheduled at a summit in Seoul in the coming weeks, will go ahead.