China warned on Tuesday that the new US tariffs on Chinese products worth US$ 18,000 million “will seriously affect” the relations between the two countries.
“This will seriously affect the atmosphere for bilateral cooperation.“said the Ministry of Commerce in a statement.
The Chinese government asked the United States to “Immediately rectify your wrong actions and cancel additional tariff measures against China”.
The White House announced on Tuesday the increase in tariffs on some Chinese products worth US$18 billion, particularly in strategic sectors such as electric vehicles, batteries, steel and minerals.
The Taxes on electric vehicles will quadruplegoing from 25% to 100% this year, the White House specified, less than six months before the presidential elections between Democratic President Joe Biden, a candidate for re-election, and his Republican predecessor Donald Trump.
The objective is to encourage China to “eliminate its unfair business practices regarding technology transfer, intellectual property and innovation”explained the White House in a statement.
“Will take all necessary measures”
The Chinese Government also assured today that “will take all necessary measures” for “protect your rights and legitimate interests”, in reference to the tariffs that the United States plans to impose on Chinese electric vehicles.
The spokesperson for the Chinese Foreign Ministry Wang Wenbin declared today in a press conference that China “has consistently opposed the unilateral imposition of tariffs that violate World Trade Organization rules”.
Wang He also criticizedthat the United States calls its product exports ‘free trade’“, but that tilde “industrial excess capacity“the fact that China”export goods with comparative advantages”.
The spokesman accused Washington of “trample on the principles of the market economy and the rules of international trade and economic cooperation”, a behavior that he described as “blatant bullying bullying”.
The Wall Street Journal (WSJ) pointed out that the Administration of the American president, Joe Bidenplans to announce its strategy against Beijing this Tuesday.
The plan, according to the source, is especially focused on electric vehicles: tariffs are expected to rise from 25% to practically 100%, with an additional rate of 2.5% on all cars imported into the United States.
The WSJ stressed that the current 25% tariff has effectively excluded these models from the US market, which are usually cheaper than those manufactured in the West.
The Chinese Association of Automobile Manufacturers marked this Monday as actions “protectionists and isolationists” the tariffs that the United States plans to impose on Chinese electric vehicles.
During the term of Republican Donald Trump (2017-2021), Washington imposed tariffs on Chinese products valued at hundreds of billions of dollars and Beijing responded with more tariffs, triggering a trade war that hampered global growth and generated disruptions in supply chains.
On a visit to China, US Treasury Secretary Janet Yellen expressed concern in April about the “direct and indirect support” by Beijing to certain sectors and considered that this support “is causing Chinese industrial overcapacity”, something denied by the Chinese authorities.
With information from AFP and EFE
Source: Gestion
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