China accuses us of “double standards” for tariff threat

Donald Trump’s last threat to impose an additional 100% tariff at Chinese goods is a “typical example of double standards in the United States,” said the China government.

A spokesman for the Ministry of Trade also said that China could introduce its own unspecified “counteracts” if the US president threatens, adding that he is “not afraid” of a possible trade war.

On Friday, Trump hit Beijing to tighten his rules for exporting rare lands, accusing China of “becoming very hostile” and trying to keep the world a “captive”.

He also threatened to withdraw from a meeting with China’s President Xi Jinping, scheduled for later this month.

Trump’s comments on Friday He shook the financial markets, with the S&P 500 shares index by 2.7%, its most steady decline since April.

The president’s words have renewed fears of a trade war between the US and China.

In May, both sides agreed to triple the numbers of the rates of the goods of each other. which increased the prospect of trade between the two countries.

This left us with the tariffs for Chinese goods facing a 30% fee compared to the beginning of the year, while US goods entering China face a 10% tariff.

China’s latest remarks – issued by the Ministry of Trade in the form of written answers to the journalist’s questions – echo the language from the midst of a recent commercial conflict.

They criticized the US restrictions on the export of chips and semiconductors, as well as defending China’s own exports to rare lands as “normal action” to protect national security and that of all countries.

The spokesman said that for “long”, USA “transfers the concept of national security, abusing export control measures” and “adopted discriminatory practices against China.”

“Runing to tariff threats is not the right way to engage with China,” the spokesman said.

“China’s position on the Tariff War has always been consistent: we do not want one, but we are not afraid of one.”

Last week, China has announced that it has tightened export control on rare lands and other materials critical of modern technology production.

This is seen as a key move, as the country cultivates about 90% of the world’s rare land, which is used in goods such as solar panels and smartphones.

Recent comments from Washington and Beijing are seen by some as a means of strengthening positions before future trade conversations.

It is unclear whether a meeting between Donald Trump and Ci Jinping, expected at a summit in South Korea this month, will still continue.