China criticizes the tightened controls imposed by the USA on dozens of exporters from the People’s Republic. The approach disrupts the international trade order and hinders the normal exchange of goods, said the Ministry of Commerce in Beijing. China will take the necessary measures to resolutely protect the legitimate rights of its companies.
The Commerce Department is responding to a decision by the U.S. government to place 123 companies – 42 Chinese, 63 Russian and 18 from other countries – on a trade restriction list. They were targeted for a variety of reasons, from providing U.S. electronics to the Russian military to manufacturing thousands of drones used by Russia in its invasion of Ukraine. The companies must now obtain hard-to-obtain licenses.
The USA and China are the world’s two largest economies. In recent weeks, concerns about a trade war between them have increased. The United States accuses the People’s Republic of supporting key industries with high state subsidies. These would then flood the world markets with cheap goods produced in abundance. The USA and the EU have therefore introduced special tariffs, for example on electric cars from China.
The trade dispute between the European Union and China has also escalated. The Ministry of Trade announced that it would launch another anti-dumping investigation into imports from the EU. Dairy products such as various types of cheese, milk and cream are affected. An anti-dumping investigation into pork imports from the EU was already launched in June. The trigger is the dispute over special EU tariffs on electric cars from China. The German government is hoping for a solution at the negotiating table.
