Beijing Slams US of ‘Hypocritical Policies’ Concerning Import Duty Ultimatum

The former US president’s newest ultimatum to impose an extra 100% tariff on items imported from China has been called a “typical example” of American hypocrisy, as stated by the Beijing administration.

A representative of the ministry also stated that the nation could enact its own unspecified “responsive actions” if the US President carries out his warning, adding that the country was “unafraid” of a potential trade conflict.

On Friday, Donald Trump hit back at China’s decision to reinforce its rules for exports of rare earths, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “under its control”.

He also vowed to withdraw from a scheduled summit with Beijing’s head of state President Xi, which was arranged for a meeting in South Korea later this month.

The former president’s remarks on last Friday shook stock exchanges, with the S&P 500 share index falling by nearly three percent, marking its largest decline since April.

His comments revived concerns of a commercial dispute between the two economic giants.

This past spring, the two sides had agreed to remove triple-digit tariffs on each other’s goods, which had led to concerns of commerce ceasing between the two nations.

As a result, United States levies on products from China subject to an additional 30% levy compared with the year’s onset, while items from the United States entering China face a import levy.

Beijing’s recent statements – released by the relevant government department in the format of written responses to media inquiries – mirrored language from the height of the recent trade conflict.

The remarks condemned American limits on exports on electronic components while justifying Beijing’s restrictions on exports on rare earth minerals as “routine measures” to safeguard domestic safety and that of the global community.

Their representative said that for “a long time”, the United States had “overstretched the concept of national security, exploited export control measures and “implemented” biased policies against Beijing.

“Using” trade levy ultimatums is not the right way to engage with the Chinese government,” the spokesperson commented.

“The nation’s view” on a tariff war has remained unchanging: we are not seeking one, but we are unafraid of one.”

The previous week, the Chinese government declared it was strengthening overseas sale regulations on rare earth minerals and additional substances critical for high-technology production.

This was seen as a key move, as the country refines about 90% of the global rare earth supply, which are used in items such as photovoltaic modules and smartphones.

Latest statements from the US and China are being viewed by some as a strategy of bolstering negotiating stances ahead of upcoming negotiations.

Is not yet known whether a meeting between Trump and President Xi, expected at a conference in South Korea later this month, will still proceed.