China called on Sunday’s latest US invoices of President Donald Trump for hypocritical goods and has defended exports of rare land exports and equipment, but stopped imposing new contributions to US products.
Trump on Friday responded to the latest Peci export controls, imposing 100% invoices on China exports, along with new critical software export controls until November 1st.
Renewed commercial tensions have hit Wall Street, sending large technological shares, concerned that foreign companies depending on the production of transformed rare earths and rare -land magnets and could derail a summit between Trump and Trump.
In response to Trump
The statement by the Chinese Ministry of Commerce on Sunday was Beijing’s first immediate response to the long -standing Truth of the Trump Social Post on Friday, where he accused Beijing of a sudden increase in commercial tensions after a worrying truce that arrived six months ago between the two -year -olds.
“Our relationship with China for the last six months has been very good, making this move even more amazing,” Trump said.
The Ministry of Commerce said in an equally long -term statement that export controls of rare land data followed a number of US measures from bilateral commercial talks in Madrid last month.
Beijing reported the addition of Chinese companies to a black list of US and the imposition of port remuneration on ships linked to China as examples.
“US actions have seriously harmed China’s interests and undermined the atmosphere of bilateral financial and commercial talks and China is decisively opposed to them,” the ministry said.
Reading: Trump escalates the trade war with China
Beijing stopped explicitly linking these actions of US actions to its exports to rare land, saying its curbs were motivated by concern about the military applications of these materials at a time of “frequent military conflict”.
It also announced the announcement of a corresponding contribution to US imports committed by China, as opposed to earlier in the year, when both superpowers were promoting progressive invoices to each other until the US was 145% while China was 125%.
“The deliberate threats of high invoices are not the right way to meet China. China’s position on the trade war is consistent: we do not want it, but we are not afraid,” the Ministry of Commerce said, adding that China would take corresponding measures if the US does not correct it.
Path to negotiations
China’s decision not to respond immediately in the opening of Trump in this last round of commercial tensions could leave the door open for both countries to negotiate a escalation, analysts said.
“By clarifying the logic behind its contrasting measures, Beijing also describes a possible path forward for negotiations.
But Hutong Research said on a note on Saturday that if Beijing chooses not to respond to the increase in 100% Trump invoices, it may signal that Beijing no longer prioritizes a long -term agreement with it, reflecting reduced confidence in its ability to hold it.
“The main follow -up points now: If Beijing moves to freeze or complicate the sale of Tiktok, given its political symbolism.
China says export checks are not exporting bans
The Ministry of Commerce also faced Trump’s narrative that China used its dominance in rare land and magnets of rare land to attack all countries, not only in the US
“We have come into contact with other countries that are extremely angry in this great hostility of trade, which came out of nowhere,” Trump said on Friday for the truth.
China produces more than 90% of the world’s rare -landed earth and the magnets of rare earths. The 17 rare land are vital materials in products ranging from electric vehicles to aircraft motors and military radar.
Exports 12 of them are confined to the Chinese Ministry of Commerce on Thursday – Holmium, Erbium, Thulium, Europium and Ytterbium – along with related materials.
The statement by the Ministry of Commerce on Sunday tried to reassure foreign companies made by the latest export curbs, promises to promote compatible trade by providing general licenses and exemptions from license.
“China’s export controls are not export bans,” he said. “Any export applications for political use that comply with regulations will be approved and the businesses do not need to be concerned.”
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