Chinese Government Condemns America of ‘Double Standards’ Regarding Tariff Threat

The former US president’s latest ultimatum to introduce an extra full import duty on products from China has been called a “prime illustration” of US double standards, per the China’s leadership.

A Commerce Ministry spokesperson additionally remarked that the nation could introduce its own unspecified “responsive actions” if the American leader follows through on his threat, adding that the country was “not afraid” of a looming commercial battle.

Last Friday, the former president responded at the Chinese government’s action to reinforce its regulations for foreign shipments of rare earths, charging China of “turning aggressive” and attempting to hold the global community “hostage”.

Furthermore, he vowed to cancel a scheduled talks with China’s President Xi, which was arranged for a meeting in South Korea before the month ends.

The former president’s remarks on last Friday rattled stock exchanges, with the benchmark US stock index dropping over two and a half percent, marking its steepest fall since earlier this year.

His comments reignited fears of a trade conflict between the two economic giants.

This past spring, the two sides had agreed to eliminate significant levies on each other’s products, which had led to concerns of trade halting between the two nations.

As a result, US tariffs on Chinese imports facing an extra import tax compared with the start of the year, while American products entering the country are subject to a import levy.

China’s latest remarks – issued by the Commerce Ministry in the form of formal replies to press queries – echoed language from the peak of the ongoing trade dispute.

Officials denounced US export restrictions on chips and semi-conductors while defending Beijing’s overseas sale regulations on rare earth minerals as “routine measures” to ensure state interests and that of all nations.

Their representative remarked that for “an extended period”, the US had “overstretched the concept of national security, exploited export control measures and “enforced” unfair treatments against the Chinese nation.

“Turning to” import duty warnings is not the proper method to interact with China,” the official stated.

“Beijing’s stance” on a tariff war has always been steady: we are not seeking one, but we are not afraid of one.”

Recently, China revealed it was tightening export controls on rare earths and additional substances vital for advanced tech manufacturing.

This was seen as a key move, as the nation handles about ninety percent of the global rare earth supply, which are used in products such as renewable energy components and handheld devices.

New remarks from both governments are being interpreted by observers as a method of enhancing bargaining power in preparation for forthcoming discussions.

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