Beijing Slams US of ‘Contradictory Stances’ Regarding Import Duty Ultimatum

The former US president’s most recent ultimatum to enforce an further 100% tariff on items imported from China has been labeled a “typical example” of American hypocrisy, according to the China’s leadership.

A official from China’s Commerce Ministry further commented that Beijing could enact its own unrevealed “countermeasures” if the US President executes his pledge, emphasizing that the country was “fearless” of a possible trade conflict.

Last Friday, Trump responded at the Chinese government’s action to strengthen its regulations for overseas sales of rare earth minerals, accusing Beijing of “turning aggressive” and attempting to hold the global community “under its control”.

Additionally, he warned to pull out of a arranged talks with Chinese leader Xi, which was expected to take place during a conference in Seoul in the coming weeks.

His statements on Friday rattled financial markets, with the benchmark US stock index closing down over two and a half percent, marking its biggest drop since April.

His comments revived fears of a trade war between the US and China.

Earlier this year, the respective governments had agreed to remove high import duties on each other’s goods, which had created the possibility of bilateral trade stopping between the two nations.

This left, United States levies on Chinese goods facing an additional import tax compared with the year’s onset, while US goods entering China are subject to a import levy.

China’s latest remarks – released by the relevant government department in the form of official answers to journalist’s questions – mirrored rhetoric from the height of the recent trade conflict.

Officials denounced United States controls on semiconductors and chips while supporting the country’s own export controls on rare earth minerals as “standard procedures” to ensure state interests and that of all nations.

The official stated that for “an extended period”, the US had “overstretched the concept of state security, exploited foreign shipment regulations and “enforced” biased policies against the Chinese nation.

“Using” trade levy ultimatums is not the proper method to interact with China,” the spokesperson stated.

“Beijing’s stance” on a import duty dispute has remained consistent: we do not want one, but we are fearless of one.”

Last week, Beijing revealed it was tightening foreign shipment restrictions on rare earths and further resources critical for cutting-edge industry.

This was seen as a key move, as the country handles about the vast majority of the global rare earth supply, which are employed in products such as solar panels and smartphones.

Latest statements from the US and China are being seen by observers as a method of strengthening positions ahead of future trade talks.

Is not yet known whether a summit between Donald Trump and President Xi, scheduled at a high-level meeting in Seoul before month’s end, will go ahead.