Chinese Government Condemns America of ‘Double Standards’ Regarding Trade Levy Warning

Donald Trump’s most recent threat to introduce an further complete levy on items imported from China has been described as a “typical example” of US double standards, per the Chinese government.

A Commerce Ministry spokesperson also stated that Beijing could enact its own undisclosed “countermeasures” if the White House occupant carries out his pledge, emphasizing that the country was “not afraid” of a potential commercial battle.

Last Friday, the former president hit back at the Chinese government’s action to tighten its policies for foreign shipments of rare earths, charging the Chinese leadership of “becoming very hostile” and attempting to hold the world “captive”.

Furthermore, he threatened to withdraw from a planned meeting with China’s President Xi Jinping, which was expected to take place during a conference in the Republic of Korea in the coming weeks.

Trump’s comments on that day rattled global markets, with the benchmark US stock index closing down over two and a half percent, marking its biggest drop since April.

These statements renewed concerns of a commercial dispute between the US and China.

This past spring, the respective governments had consented to eliminate high import duties on each other’s imports, which had raised the prospect of trade halting between the two countries.

As a result, US tariffs on products from China subject to an added 30% levy compared with the start of the year, while US goods entering the Chinese market incur a import levy.

Beijing’s recent statements – released by the relevant government department in the manner of official answers to press queries – echoed rhetoric from the peak of the latest commercial tensions.

They criticised American limits on exports on electronic components while defending the country’s own restrictions on exports on key elements as “standard procedures” to ensure state interests and that of every country.

Their representative said that for “a long time”, the America had “broadened the definition” of domestic safety, abused overseas sale restrictions and “enforced” biased policies against China.

“Turning to” trade levy ultimatums is not the proper method to interact with the Chinese government,” their representative said.

“Beijing’s stance” on a tariff war has consistently been steady: we do not want one, but we are unafraid of one.”

Recently, the Chinese government declared it was reinforcing export controls on key elements and additional substances essential to cutting-edge industry.

The action was viewed as a key move, as the country processes about the vast majority of the world’s rare earths, which are utilized in goods such as solar panels and mobile phones.

The recent comments from the US and China are being interpreted by analysts as a method of bolstering negotiating stances ahead of forthcoming discussions.

It is unclear 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 still proceed.

Jennifer Christian
Jennifer Christian

A seasoned betting analyst with over a decade of experience in the New Zealand gambling industry.