Beijing Slams US of ‘Hypocritical Policies’ Concerning Import Duty Ultimatum

The former US president’s latest warning to enforce an additional complete levy on items imported from China has been described as a “typical example” of American hypocrisy, according to the China’s leadership.

A representative of the ministry further commented that China could enact its own unrevealed “countermeasures” if the American leader carries out his threat, emphasizing that the country was “unafraid” of a possible trade conflict.

On Friday, Donald Trump hit back at the Chinese government’s action to tighten its policies for overseas sales of rare earth minerals, alleging Beijing of “adopting a confrontational stance” and attempting to hold the international market “under its control”.

Additionally, he warned to pull out of a planned talks with Beijing’s head of state President Xi, which was set for a meeting in South Korea in the coming weeks.

Trump’s comments on that day rattled stock exchanges, with the S&P 500 share index closing down nearly three percent, marking its steepest fall since earlier this year.

These statements revived fears of a commercial dispute between the two economic giants.

Earlier this year, the two sides had reached an agreement to eliminate significant levies on each other’s imports, which had created the possibility of trade halting between the economic powers.

This left, US tariffs on Chinese imports incurring an added import tax compared with the start of the year, while US goods entering the Chinese market face a ten percent duty.

Beijing’s recent statements – published by the Commerce Ministry in the manner of written responses to press queries – reflected terminology from the peak of the recent trade conflict.

Officials denounced United States controls on semiconductors and chips while supporting China’s own overseas sale regulations on rare earth minerals as “normal actions” to ensure national security and that of the global community.

Their representative said that for “an extended period”, the United States had “broadened the definition” of national security, abused export control measures and “enforced” unfair treatments against Beijing.

“Using” trade levy ultimatums is not the proper method to deal with Beijing,” the official said.

“China’s position on a import duty dispute has consistently been consistent: we wish to avoid one, but we are fearless of one.”

The previous week, China announced it was tightening foreign shipment restrictions on rare earth minerals and additional substances vital for advanced tech manufacturing.

The action was viewed as a key move, as the country processes about 90% of the global rare earth supply, which are used in goods such as renewable energy components and handheld devices.

The recent comments from both governments are being seen by some as a means of bolstering negotiating stances in preparation for upcoming negotiations.

It is unclear whether a meeting between Donald Trump and Xi Jinping, planned at a high-level meeting in Seoul later this month, will still proceed.