China Accuses America of ‘Contradictory Stances’ Regarding Import Duty Ultimatum

Trump’s latest ultimatum to introduce an additional full import duty on Chinese goods has been called a “prime illustration” of US double standards, per the Chinese government.

A representative of the ministry additionally remarked that Beijing could implement its own unspecified “retaliatory steps” if the American leader carries out his warning, emphasizing that the country was “not afraid” of a looming commercial battle.

On Friday, the former president retaliated at Beijing’s move to tighten its rules for overseas sales of rare earths, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

He also vowed to withdraw from a planned talks with Beijing’s head of state President Xi, which was expected to take place during a conference in the Republic of Korea later this month.

Trump’s comments on Friday shook financial markets, with the benchmark US stock index falling by over two and a half percent, marking its largest decline since last spring.

These statements renewed concerns of a trade war between the two economic giants.

Earlier this year, the both nations had reached an agreement to eliminate triple-digit tariffs on each other’s imports, which had created the possibility of commerce ceasing between the economic powers.

Consequently, US tariffs on Chinese goods facing an added import tax compared with the start of the year, while US goods entering the country are subject to a import levy.

China’s latest remarks – published by the relevant government department in the manner of official answers to media inquiries – mirrored language from the peak of the latest commercial tensions.

They criticised US export restrictions on electronic components while supporting China’s own export controls on rare earth minerals as “normal actions” to safeguard state interests and that of every country.

Their representative said that for “many years”, the US had “broadened the definition” of national security, abused foreign shipment regulations and “adopted biased policies against the Chinese nation.

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

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

Recently, China announced it was strengthening foreign shipment restrictions on rare earths and further resources critical for high-technology production.

This was seen as a significant step, as the nation processes about the vast majority of the world’s rare earths, which are employed in goods such as solar panels and handheld devices.

The recent comments from the US and China are being seen by analysts as a method of strengthening positions ahead of forthcoming discussions.

Remains uncertain whether a talks between Donald Trump and China’s leader, planned at a high-level meeting in the Republic of Korea later this month, will take place as planned.