China Accuses America of ‘Double Standards’ Over Trade Levy Warning

Trump’s latest threat to enforce an further complete levy on Chinese goods has been labeled a “classic case” of United States’ contradictory behavior, according to the Chinese government.

A representative of the ministry additionally remarked that China could enact its own unspecified “responsive actions” if the American leader carries out his threat, emphasizing that the country was “fearless” of a possible trade war.

On Friday, Donald Trump responded at China’s decision to strengthen its regulations for foreign shipments of rare earth minerals, charging China of “adopting a confrontational stance” and attempting to hold the global community “captive”.

He also vowed to pull out of a planned talks with China’s President Xi Jinping, which was set for a conference in Seoul later this month.

His statements on last Friday rattled global markets, with the S&P 500 falling by nearly three percent, marking its largest decline since earlier this year.

His comments renewed apprehensions of a commercial dispute between the United States and China.

This past spring, the two sides had reached an agreement to drop significant levies on each other’s imports, which had raised the prospect of commerce ceasing between the economic powers.

This left, American import duties on Chinese imports facing an added import tax compared with the start of the year, while American products entering the country face a ten percent duty.

China’s latest remarks – published by the Ministry of Commerce in the manner of official answers to journalist’s questions – mirrored rhetoric from the zenith of the recent trade conflict.

Officials denounced US export restrictions on electronic components while defending the country’s own restrictions on exports on rare earths as “standard procedures” to protect national security and that of the global community.

Their representative remarked that for “an extended period”, the US had “overstretched the concept of domestic safety, misused overseas sale restrictions and “adopted biased policies against China.

“Using” trade levy ultimatums is not the correct approach to deal with the Chinese government,” the official stated.

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

Recently, Beijing revealed it was reinforcing overseas sale regulations on rare earth minerals and further resources critical for cutting-edge industry.

The action was viewed as a significant step, as the country refines about ninety percent of the global rare earth supply, which are utilized in products such as renewable energy components and smartphones.

Latest statements from Washington and Beijing are being seen by analysts as a strategy of enhancing bargaining power ahead of future trade talks.

Remains uncertain whether a summit between Trump and China’s leader, expected at a high-level meeting in the Republic of Korea before month’s end, will take place as planned.