Chinese Government Condemns America of ‘Contradictory Stances’ Over Trade Levy Warning

The former US president’s most recent ultimatum to introduce an further 100% tariff on Chinese goods has been labeled a “prime illustration” of American hypocrisy, per the China’s leadership.

A representative of the ministry further commented that Beijing could introduce its own unspecified “countermeasures” if the US President carries out his threat, adding that the country was “fearless” of a possible commercial battle.

On Friday, the former president hit back at China’s decision to strengthen its policies for exports of critical elements, accusing the Chinese leadership of “adopting a confrontational stance” and attempting to hold the world “captive”.

Furthermore, he vowed to withdraw from a arranged summit with China’s President Xi Jinping, which was set for a conference in South Korea in the coming weeks.

Trump’s comments on last Friday rattled financial markets, with the S&P 500 share index dropping nearly three percent, marking its steepest fall since last spring.

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

This past spring, the two sides had reached an agreement to eliminate significant levies on each other’s products, which had raised the prospect of bilateral trade stopping between the two countries.

As a result, US tariffs on Chinese goods facing an additional import tax compared with the start of the year, while items from the United States entering China are subject to a ten percent duty.

Beijing’s recent statements – issued by the Commerce Ministry in the manner of written responses to media inquiries – mirrored rhetoric from the zenith of the ongoing trade dispute.

Officials denounced US export restrictions on electronic components while supporting China’s own export controls on key elements as “routine measures” to ensure domestic safety and that of every country.

The official remarked that for “a long time”, the US had “expanded the interpretation” of state security, abused export control measures and “enforced” biased policies against China.

“Resorting to tariff threats is not the correct approach to deal with China,” the spokesperson commented.

“The nation’s view” on a tariff war has always been steady: we wish to avoid one, but we are unafraid of one.”

The previous week, Beijing declared it was tightening overseas sale regulations on rare earths and additional substances critical for high-technology production.

This was seen as a key move, as the state refines about the vast majority of the world’s rare earths, which are used in goods such as photovoltaic modules and mobile phones.

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

Is not yet known whether a meeting between Trump and China’s leader, scheduled at a summit in South Korea later this month, will still proceed.