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Presidents (Government)

China Accuses US of "Double Standards" as Trade Tensions Escalate

Strategic Insights

— 1 min read

China has accused the United States of "double standards" on Sunday, following President Donald Trump's threat to impose additional 100 percent tariffs on the world's second-largest economy. The tensions have escalated as Beijing has announced new controls on the export of technologies used for the mining and processing of critical minerals, including rare earths, which are essential for manufacturing everything from smartphones to military hardware. Trump has reacted aggressively, threatening to cancel a meeting with Chinese President Xi Jinping and imposing extra levies on Chinese goods.

Key Takeaways:

  • China's Ministry of Commerce has accused the US of "double standards" in its trade policies, citing increased economic measures against Beijing since September.
  • The US currently imposes tariffs of 30 percent on Chinese goods, while China's retaliatory tariffs are at 10 percent.
  • Rare earths have been a major sticking point in trade negotiations between the US and China, with China dominating global production and processing of these materials.
  • China has announced new controls on the export of technologies used for the mining and processing of critical minerals, including rare earths.
  • Trump has threatened to impose additional 100 percent tariffs on Chinese goods and cancel a meeting with Chinese President Xi Jinping.
  • The US and China have a history of trade tensions, with bilateral trade thrown into serious jeopardy earlier this year.
  • China has imposed "special port fees" on ships operated by and built in the US, citing the US's own port fees charged on Chinese ships as a "defensive action".
  • Washington has announced those fees in April as part of an effort to revive American shipbuilding.

Statistics:

  • US tariffs on Chinese goods: 30 percent
  • China's retaliatory tariffs: 10 percent
  • China's dominant share of global rare earth production and processing: 90 percent
  • US threatened additional tariffs: 100 percent
  • Number of trade agreements reached between the US and China: None since September
  • Number of ships operated by and built in the US targeted by China's special port fees: Unknown
  • Date of proposed meeting between Trump and Xi Jinping: Later this month
  • Date of China's new controls on rare earths export: Thursday
  • Date of Trump's announcement of extra levies on Chinese goods: Friday

Sources:

  • AFP (no date given)
  • China's Ministry of Commerce (online statement, no date given)
  • Reuters (no date given)
  • Saudi Research and Publishing Co. (no date given)

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