China Accuses US of ‘Contradictory Stances’ Over Import Duty Ultimatum

Donald Trump’s most recent ultimatum to impose an additional complete levy on items imported from China has been described as a “classic case” of American hypocrisy, per the Chinese government.

A Commerce Ministry spokesperson also stated that the nation could implement its own unspecified “retaliatory steps” if the US President follows through on his threat, noting that the country was “not afraid” of a looming trade conflict.

On Friday, the former president hit back at China’s decision to reinforce its rules for foreign shipments of critical elements, accusing the Chinese leadership of “turning aggressive” and attempting to hold the global community “hostage”.

Additionally, he warned to pull out of a planned summit with Chinese leader Xi Jinping, which was expected to take place during a meeting in Seoul in the coming weeks.

The former president’s remarks on last Friday rattled stock exchanges, with the benchmark US stock index closing down 2.7%, marking its largest decline since last spring.

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

In May, the two sides had agreed to remove triple-digit tariffs on each other’s imports, which had created the possibility of trade halting between the two nations.

This left, US tariffs on Chinese imports subject to an added 30% levy compared with the start of the year, while US goods entering the country incur a import levy.

China’s latest remarks – released by the Ministry of Commerce in the manner of official answers to media inquiries – reflected terminology from the peak of the recent trade conflict.

The remarks condemned United States controls on electronic components while supporting Beijing’s overseas sale regulations on rare earths as “standard procedures” to safeguard national security and that of all nations.

The official said that for “an extended period”, the US had “expanded the interpretation” of national security, misused export control measures and “implemented” biased policies against Beijing.

“Using” import duty warnings is not the right way to deal with the Chinese government,” the spokesperson stated.

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

Last week, Beijing announced it was reinforcing export controls on key elements and additional substances critical for high-technology production.

The action was viewed as a key move, as the state refines about the vast majority of the global rare earth supply, which are used in items such as renewable energy components and handheld devices.

Latest statements from the US and China are being seen by analysts as a means of enhancing bargaining power prior to future trade talks.

Is not yet known whether a meeting between the former president and Xi Jinping, scheduled at a conference in the Republic of Korea later this month, will take place as planned.