Beijing Slams US of ‘Contradictory Stances’ Regarding Import Duty Ultimatum

The former US president’s latest threat to enforce an further 100% tariff on products from China has been labeled a “prime illustration” of United States’ contradictory behavior, according to the China’s leadership.

A representative of the ministry also stated that Beijing could enact its own undisclosed “retaliatory steps” if the US President follows through on his threat, adding that the country was “fearless” of a potential trade conflict.

This past Friday, Trump hit back at China’s decision to strengthen its regulations for overseas sales of rare earth minerals, accusing China of “adopting a confrontational stance” and attempting to hold the global community “under its control”.

He also warned to cancel a scheduled meeting with China’s President Xi Jinping, which was set for a meeting in South Korea before the month ends.

Trump’s comments on that day unsettled financial markets, with the S&P 500 share index falling by over two and a half percent, marking its biggest drop since last spring.

The president’s words revived apprehensions of a commercial dispute between the US and China.

Earlier this year, the respective governments had reached an agreement to drop triple-digit tariffs on each other’s imports, which had created the possibility of bilateral trade stopping between the economic powers.

As a result, United States levies on Chinese imports facing an added thirty percent tariff compared with the start of the year, while items from the United States entering the country incur a 10% tariff.

The most recent comments from China – released by the Ministry of Commerce in the form of written responses to journalist’s questions – echoed rhetoric from the height of the ongoing trade dispute.

The remarks condemned American limits on exports on electronic components while justifying China’s own overseas sale regulations on key elements as “normal actions” to safeguard state interests and that of every country.

The spokesperson stated that for “a long time”, the US had “broadened the definition” of state security, exploited foreign shipment regulations and “implemented” unfair treatments against Beijing.

“Turning to” import duty warnings is not the proper method to deal with Beijing,” the official commented.

“The nation’s view” on a trade conflict has consistently been consistent: we do not want one, but we are fearless of one.”

Last week, China revealed it was reinforcing export controls on key elements and other materials essential to high-technology production.

The action was viewed as a significant step, as the state handles about ninety percent of the global rare earth supply, which are employed in goods such as photovoltaic modules and smartphones.

Latest statements from the US and China are being viewed by analysts as a means of enhancing bargaining power prior to forthcoming discussions.

Remains uncertain whether a talks between Donald Trump and President Xi, expected at a summit in South Korea later this month, will take place as planned.