Chinese Government Condemns US of ‘Hypocritical Policies’ Over Tariff Threat

Donald Trump’s latest threat to introduce an additional full import duty on products from China has been described as a “typical example” of American hypocrisy, as stated by the Beijing administration.

A Commerce Ministry spokesperson additionally remarked that the nation could implement its own unrevealed “countermeasures” if the White House occupant executes his pledge, emphasizing that the country was “fearless” of a looming trade war.

On Friday, the former president retaliated at Beijing’s move to strengthen its rules for overseas sales of rare earths, accusing the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

He also warned to cancel a scheduled meeting with Beijing’s head of state Xi, which was arranged for a summit in Seoul in the coming weeks.

The former president’s remarks on Friday shook financial markets, with the S&P 500 dropping 2.7%, marking its biggest drop since earlier this year.

The president’s words renewed concerns of a trade conflict between the United States and China.

This past spring, the two sides had reached an agreement to eliminate high import duties on each other’s products, which had led to concerns of commerce ceasing between the two countries.

This left, American import duties on Chinese imports subject to an extra 30% levy compared with the year’s onset, while American products entering the Chinese market are subject to a ten percent duty.

Beijing’s recent statements – released by the relevant government department in the manner of written responses to media inquiries – echoed terminology from the height of the latest commercial tensions.

The remarks condemned US export restrictions on semiconductors and chips while supporting China’s own export controls on rare earth minerals as “standard procedures” to ensure national security and that of the global community.

The official said that for “many years”, the America had “broadened the definition” of national security, misused foreign shipment regulations and “implemented” unfair treatments against the Chinese nation.

“Using” trade levy ultimatums is not the correct approach to interact with China,” their representative said.

“Beijing’s stance” on a tariff war has consistently been steady: we wish to avoid one, but we are unafraid of one.”

Recently, the Chinese government announced it was reinforcing foreign shipment restrictions on rare earth minerals and further resources critical for advanced tech manufacturing.

This was seen as a important measure, as the country processes about ninety percent of the global rare earth supply, which are employed in goods such as photovoltaic modules and mobile phones.

New remarks from Washington and Beijing are being seen by some as a strategy of strengthening positions in preparation for forthcoming discussions.

Is not yet known whether a talks between the former president and China’s leader, expected at a high-level meeting in Seoul in the coming weeks, will take place as planned.