Chinese Government Condemns United States of ‘Double Standards’ Concerning Trade Levy Warning

The former US president’s newest ultimatum to enforce an extra complete levy on products from China has been described as a “typical example” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson further commented that Beijing could enact its own unrevealed “retaliatory steps” if the US President carries out his pledge, noting that the country was “not afraid” of a possible trade war.

Last Friday, the former president responded at China’s decision to reinforce its policies for overseas sales of critical elements, alleging Beijing of “turning aggressive” and attempting to hold the world “captive”.

He also warned to cancel a arranged talks with Beijing’s head of state President Xi, which was expected to take place during a conference in Seoul in the coming weeks.

His statements on that day rattled global markets, with the S&P 500 closing down 2.7%, marking its biggest drop since earlier this year.

These statements revived fears of a trade war between the two economic giants.

This past spring, the two sides had consented to remove significant levies on each other’s imports, which had created the possibility of trade halting between the two countries.

This left, United States levies on Chinese goods incurring an added thirty percent tariff compared with the year’s onset, while American products entering China face a ten percent duty.

The most recent comments from China – published by the relevant government department in the manner of written responses to media inquiries – mirrored terminology from the zenith of the ongoing trade dispute.

They criticised American limits on exports on semiconductors and chips while supporting the country’s own export controls on rare earth minerals as “normal actions” to ensure national security and that of all nations.

Their representative remarked that for “many years”, the United States had “broadened the definition” of state security, exploited overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Resorting to tariff threats is not the right way to engage with China,” the official commented.

“The nation’s view” on a tariff war has consistently been consistent: we wish to avoid one, but we are not afraid of one.”

Last week, China revealed it was strengthening export controls on key elements and other materials essential to high-technology production.

The action was viewed as a important measure, as the country handles about ninety percent of the global rare earth supply, which are utilized in products such as solar panels and mobile phones.

Latest statements from both governments are being interpreted by some as a method of bolstering negotiating stances ahead of future trade talks.

Is not yet known whether a talks between the former president and Xi Jinping, scheduled at a high-level meeting in South Korea later this month, will go ahead.