China Accuses US of ‘Hypocritical Policies’ Regarding Trade Levy Warning

Trump’s latest ultimatum to impose an additional complete levy on Chinese goods has been called a “prime illustration” of US double standards, according to the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could enact its own unspecified “countermeasures” if the American leader follows through on his warning, emphasizing that the country was “fearless” of a looming trade conflict.

On Friday, the former president hit back at the Chinese government’s action to reinforce its regulations for exports of rare earths, accusing Beijing of “becoming very hostile” and attempting to hold the global community “captive”.

Furthermore, he vowed to withdraw from a planned talks with Beijing’s head of state Xi, which was expected to take place during a conference in South Korea later this month.

His statements on Friday rattled global markets, with the benchmark US stock index dropping over two and a half percent, marking its biggest drop since earlier this year.

These statements revived concerns of a trade war between the US and China.

Earlier this year, the respective governments had agreed to eliminate high import duties on each other’s products, which had led to concerns of trade halting between the economic powers.

As a result, American import duties on products from China subject to an added thirty percent tariff compared with the start of the year, while US goods entering the country are subject to a import levy.

The most recent comments from China – published by the Ministry of Commerce in the manner of written responses to media inquiries – echoed rhetoric from the height of the latest commercial tensions.

They criticised American limits on exports on semiconductors and chips while justifying the country’s own export controls on rare earths as “normal actions” to protect national security and that of every country.

The official stated that for “an extended period”, the US had “broadened the definition” of domestic safety, exploited overseas sale restrictions and “enforced” unfair treatments against Beijing.

“Turning to” tariff threats is not the right way to interact with Beijing,” the spokesperson stated.

“The nation’s view” on a tariff war has consistently been unchanging: we do not want one, but we are not afraid of one.”

Recently, Beijing announced it was reinforcing overseas sale regulations on rare earth minerals and further resources essential to advanced tech manufacturing.

This move was regarded as a significant step, as the state processes about 90% of the planet’s critical minerals, which are employed in items such as renewable energy components and mobile phones.

Latest statements from both governments are being interpreted by observers as a method of bolstering negotiating stances ahead of upcoming negotiations.

It is unclear whether a talks between Donald Trump and China’s leader, expected at a conference in Seoul in the coming weeks, will take place as planned.