BEIJING: Beijing on Wednesday said it firmly opposed a US probe into China’s trade practices in the shipbuilding, maritime and logistics sectors, accusing it of being “full of false accusations”.
The announcement of the investigation by the US Trade Representative (USTR) came in response to a petition filed by five US unions, prompting a swift reaction from Beijing.
In a statement issued by China’s commerce ministry, the probe was criticized for misinterpreting normal trade and investment activities as threats to US national security and corporate interests. China accused the US of shifting blame for its own industrial problems onto China.
The dispute adds to existing tensions between the two economic giants, with US President Joe Biden advocating for increased tariffs on Chinese steel and aluminum, citing concerns over “unfair competition.”
China’s commerce ministry countered the accusations, alleging that the US provides discriminatory subsidies to its own industries while accusing China of adopting “non-market practices.” Beijing defended the development of its industries as the result of technological innovation and healthy market competition.
Expressing dissatisfaction with the probe, China vowed to closely monitor its progress and take necessary measures to protect its rights and interests.
Meanwhile, US President Joe Biden emphasized the need for stronger measures against Chinese steel imports on Wednesday, calling for a tripling of tariffs while denying the onset of a trade war with Beijing.
Addressing steelworkers in Pittsburgh during a visit to Pennsylvania, Biden underscored the importance of combating Chinese policies and subsidies that undercut American steel and aluminum industries.
Highlighting China’s dominant role in global steel production and its practice of exporting metal at significantly lower costs, a senior US official revealed plans to triple the existing tariffs under Section 301 of the Trade Act.
While stressing the need for stronger action against unfair trade practices, Biden dismissed concerns of escalating tensions into a full-blown trade war, affirming his commitment to protecting American manufacturing interests.
