China Accuses America of ‘Hypocritical Policies’ Over Trade Levy Warning

Trump’s most recent ultimatum to introduce an additional complete levy on products from China has been called a “classic case” of US double standards, per the China’s leadership.

A representative of the ministry additionally remarked that China could introduce its own unrevealed “countermeasures” if the White House occupant executes his pledge, adding that the country was “not afraid” of a potential trade war.

On Friday, the former president responded at Beijing’s move to reinforce its policies for exports of rare earths, alleging China of “becoming very hostile” and attempting to hold the global community “captive”.

He also vowed to cancel a arranged meeting with Beijing’s head of state Xi Jinping, which was set for a summit in South Korea in the coming weeks.

His statements on that day unsettled global markets, with the benchmark US stock index falling by nearly three percent, marking its biggest drop since earlier this year.

His comments renewed apprehensions of a trade war between the US and China.

This past spring, the respective governments had reached an agreement to remove triple-digit tariffs on each other’s imports, which had raised the prospect of commerce ceasing between the two countries.

Consequently, US tariffs on Chinese goods facing an extra 30% levy compared with the start of the year, while items from the United States entering China face a ten percent duty.

Beijing’s recent statements – published by the relevant government department in the manner of official answers to press queries – reflected rhetoric from the height of the recent trade conflict.

The remarks condemned American limits on exports on semiconductors and chips while justifying Beijing’s restrictions on exports on rare earth minerals as “normal actions” to ensure national security and that of the global community.

The spokesperson stated that for “a long time”, the America had “overstretched the concept of state security, exploited overseas sale restrictions and “enforced” biased policies against Beijing.

“Using” import duty warnings is not the correct approach to engage with China,” the official stated.

“China’s position on a trade conflict has consistently been unchanging: we are not seeking one, but we are unafraid of one.”

Recently, China announced it was tightening overseas sale regulations on rare earths and additional substances vital for cutting-edge industry.

This move was regarded as a significant step, as the state processes about 90% of the world’s rare earths, which are utilized in goods such as renewable energy components and handheld devices.

New remarks from the US and China are being viewed by analysts as a strategy of strengthening positions prior to future trade talks.

Remains uncertain whether a meeting between the former president and Xi Jinping, scheduled at a summit in the Republic of Korea before month’s end, will still proceed.