China Accuses US of ‘Hypocritical Policies’ Regarding Import Duty Ultimatum

Donald Trump’s newest ultimatum to enforce an extra 100% tariff on items imported from China has been labeled a “prime illustration” of American hypocrisy, according to the China’s leadership.

A official from China’s Commerce Ministry additionally remarked that the nation could enact its own unrevealed “responsive actions” if the American leader carries out his threat, emphasizing that the country was “fearless” of a possible trade war.

This past Friday, Trump responded at the Chinese government’s action to tighten its regulations for foreign shipments of rare earth minerals, charging the Chinese leadership of “turning aggressive” and attempting to hold the international market “under its control”.

Additionally, he vowed to cancel a scheduled summit with Chinese leader Xi, which was arranged for a meeting in South Korea before the month ends.

Trump’s comments on last Friday shook financial markets, with the S&P 500 dropping nearly three percent, marking its largest decline since earlier this year.

These statements reignited fears of a trade conflict between the two economic giants.

This past spring, the respective governments had reached an agreement to remove high import duties on each other’s goods, which had created the possibility of commerce ceasing between the two countries.

Consequently, American import duties on Chinese goods facing an additional import tax compared with the year’s onset, while items from the United States entering the Chinese market are subject to a ten percent duty.

The most recent comments from China – published by the Commerce Ministry in the manner of formal replies to media inquiries – reflected language from the peak of the latest commercial tensions.

They criticised United States controls on electronic components while supporting the country’s own export controls on rare earth minerals as “standard procedures” to safeguard domestic safety and that of every country.

The official remarked that for “an extended period”, the America had “broadened the definition” of domestic safety, abused overseas sale restrictions and “adopted discriminatory practices against Beijing.

“Turning to” tariff threats is not the right way to deal with China,” the official said.

“The nation’s view” on a trade conflict has remained consistent: we wish to avoid one, but we are unafraid of one.”

Last week, the Chinese government declared it was tightening overseas sale regulations on rare earth minerals and further resources vital for high-technology production.

This was seen as a key move, as the nation handles about ninety percent of the world’s rare earths, which are employed in items such as photovoltaic modules and smartphones.

New remarks from Washington and Beijing are being interpreted by some as a method of enhancing bargaining power prior to future trade talks.

Is not yet known whether a talks between Donald Trump and China’s leader, scheduled at a high-level meeting in the Republic of Korea before month’s end, will go ahead.