China’s warning to the US over tariff ultimatums – Mehr News Agency | Iranian and world news

The Chinese Ministry of Commerce, in a statement referring to US President Donald Trump’s threats to impose a 5 % tariff on Chinese imports, insisted that Beijing would not surrender to these threats, according to the Mehr News Agency.

Trump recently pointed to China’s recent restrictions on export of rare minerals (critical materials needed in the production of goods from smartphones to fighters), which plans to impose a 5 % tariff on Chinese imports.

China’s Ministry of Commerce said: China’s stance in the trade war is constant; We do not want it, but we have no fear of it.

The re-dispute between Beijing and Washington can marginalize Trump and Chinese President Xi Jinping on the sidelines of the Asian-Pacific Economic Cooperation (APEC) summit in South Korea in late October or early November.

In many ways, this meeting is an opportunity to revive the discourse between the two world’s economic superpowers. Trump has spent most of this year’s tariffs aimed at ratinging Washington’s business partners. However, China has refused to surrender and relies on its economic leverage to counter US pressure.

In another part of the statement, the Chinese Ministry of Commerce wrote: Popular threats about higher tariffs are not the right way to deal with China. If the United States insists on the wrong path, China will certainly take decisive steps to protect its legitimate rights and interests.

China and the United States have accused each other of violating trade ceasefire through new restrictions. Trump has accused Beijing of “being hostile” and claimed that China has taken the world hostage by restricting access to rare minerals. “

China’s new export regulations are now required to obtain special licenses before exporting goods containing rare minerals extracted from China (even a small amount).

The United States and China agreed in August to extend a tariff ceasefire. According to a 5 -day ceasefire, US tariffs on Chinese imports fell from 2 % to 5 % and China’s tariffs on US goods fell from 2 % to 5 %. The ceasefire expires in November.