China slams US' 100% tariffs as 'double standards'
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Beijing: China slammed the United States on Sunday for imposing 100 per cent tariffs on Chinese imports, calling the action a "double standard."
Beijing stated that it would take a "just and reasonable principled position" and continue to execute export control measures in a "prudential and moderate manner".
The reaction came after US President Donald Trump, on October 10, announced additional levies set to take effect from November 1, in retaliation for what he termed as China's "extraordinarily aggressive" new export restrictions on rare-earth minerals.
Washington also threatened to cancel a planned meeting with Chinese President Xi Jinping later this month, IANS reported.
In a statement, China's Ministry of Commerce said, "On October 9, China released export control measures on rare earths and related items, which are normal actions taken by the Chinese government in accordance with laws and regulations to refine its own export control system."
"As a responsible major country, China always firmly safeguards its national security and international common security, always takes a just and reasonable principled position and implements export control measures in a prudential and moderate manner," it added.
Beijing accused Washington of escalating economic pressure against China since September.
"The US remarks reflect a textbook 'double standard'. For a long time, the US has been overstretching the concept of national security, abusing export control, taking discriminatory actions against China, and imposing unilateral long-arm jurisdiction measures on various products, including semiconductor equipment and chips," the ministry said.
It also highlighted the disparity between the two countries' export control regimes. It mentioned that the US Commerce Control List (CCL) covers over 3,000 items, whereas China's Export Control List of Dual-use Items only covers about 900.
"The US has long imposed the 'de minimis' rule for export controls, with a lowest threshold of 0 per cent. These measures of the US side have seriously harmed the legitimate and lawful rights and interests of companies, severely disrupted the international economic and trade order, and gravely undermined the security and stability of global industrial and supply chains," it added.