UPDATE: BEIJING SLAMS REPORTED US TRADE BAN ON CARS WITH CHINESE TECH
Read Time:1 Minute, 39 Second
China cautioned the United States on Monday not to adopt “discriminatory actions” against its companies, following reports that Washington intends to prohibit the sale of automobiles incorporating Chinese and Russian technology.
Bloomberg and other media outlets claimed Sunday, citing sources, that the United States was considering new laws that would prohibit Chinese-made hardware and software from being used in its vehicles.
When asked about the reports, foreign ministry spokesman Lin Jian said China urged “the US to respect market principles and provide an open, fair, transparent, and non-discriminatory business environment for Chinese enterprises.”.
“China opposes the US’s broadening of the concept of national security and the discriminatory actions taken against Chinese companies and products,” Lin said.
“China will resolutely safeguard its legitimate rights and interests,” he added.
If confirmed, the restrictions would be the latest escalation in a long-running trade dispute between the United States and China.
In May, Washington announced significant tariff increases on Chinese products, like electric vehicles and electronics.
The tariff increases will affect $18 billion in Chinese imports, with a focus on strategic industries such as EVs, batteries, critical minerals, and medical supplies, the White House announced.
The tariff rate on EVs is expected to quadruple to 100% this year, while the tariff rate on chips will increase from 25% to 50% by next year.
Those plans were formalised this month, ahead of the November presidential election, in which both Democrats and Republicans intend to take a firm line on China as competition between the two countries heats up.
The tariff increases on the $18 billion in commodities came following a review of levies imposed by then President Donald Trump, which affected approximately $300 billion in Chinese imports.
Aside from tariff increases, including those on solar cells, the US Trade Representative’s office indicated that a 50% charge on semiconductors, a significant increase from before, would begin in 2025.
US President Joe Biden accused Beijing of “cheating” rather than competing in trade.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0