Beijing Slams United States of ‘Contradictory Stances’ Regarding Tariff Threat

Donald Trump’s most recent threat to enforce an further 100% tariff on products from China has been labeled a “classic case” of United States’ contradictory behavior, per the Beijing administration.

A official from China’s Commerce Ministry further commented that China could introduce its own unrevealed “countermeasures” if the US President carries out his pledge, adding that the country was “fearless” of a possible commercial battle.

Last Friday, Donald Trump responded at China’s decision to reinforce its regulations for foreign shipments of rare earth minerals, charging China of “turning aggressive” and attempting to hold the global community “hostage”.

Additionally, he threatened to pull out of a arranged meeting with China’s President Xi Jinping, which was expected to take place during a meeting in South Korea before the month ends.

Trump’s comments on that day unsettled financial markets, with the benchmark US stock index falling by nearly three percent, marking its steepest fall since April.

His comments renewed concerns of a trade conflict between the two economic giants.

In May, the both nations had reached an agreement to eliminate triple-digit tariffs on each other’s products, which had led to concerns of trade halting between the two nations.

This left, American import duties on Chinese imports incurring an added thirty percent tariff compared with the year’s onset, while US goods entering the country face a 10% tariff.

China’s latest remarks – issued by the Commerce Ministry in the form of written responses to journalist’s questions – reflected rhetoric from the height of the recent trade conflict.

The remarks condemned American limits on exports on semiconductors and chips while defending Beijing’s overseas sale regulations on rare earth minerals as “standard procedures” to safeguard national security and that of all nations.

The spokesperson said that for “an extended period”, the America had “broadened the definition” of national security, abused export control measures and “implemented” biased policies against Beijing.

“Turning to” trade levy ultimatums is not the correct approach to interact with Beijing,” their representative stated.

“Beijing’s stance” on a trade conflict has consistently been consistent: we are not seeking one, but we are fearless of one.”

Last week, Beijing revealed it was tightening overseas sale regulations on rare earth minerals and further resources essential to high-technology production.

The action was viewed as a important measure, as the country processes about 90% of the planet’s critical minerals, which are employed in products such as photovoltaic modules and handheld devices.

The recent comments from Washington and Beijing are being interpreted by observers as a method of enhancing bargaining power prior to forthcoming discussions.

It is unclear whether a talks between Trump and Xi Jinping, scheduled at a high-level meeting in South Korea before month’s end, will take place as planned.

Eric Zuniga
Eric Zuniga

Elara Vance is a blockchain analyst and crypto journalist with over a decade of experience covering decentralized technologies and market trends.