CHINA’S government blasted a Biden administration plan to launch a formal review of its maritime, logistics and shipbuilding sector, calling the investigation a mistake “based on the need of domestic politics”.
Wednesday’s (Apr 17) statement by the US Trade Representative’s office was “full of false accusations” and misinterpreted normal trade and investment practices as harming US national security and corporate interests, a Chinese Commerce Ministry spokesperson said on Wednesday. “China will closely monitor the progress of the investigation and will take all necessary measures to resolutely protect its rights and interests.”
The probe announced by Katherine Tai’s office was responding to the petition from a group of five major union groups last month. President Joe Biden is also calling for higher tariffs on Chinese steel and aluminium, part of a series of steps to shore up the American steel sector and woo its workers in this year’s election.
China’s statement on Wednesday did not address Biden’s new initiative on Chinese steel and aluminium.
As for the shipbuilding industry probe, “it lacks factual basis and goes against economic common sense to blame China for America’s own industrial problems”, the Chinese statement said. “We urge the US to respect facts and multilateral rules, stop wrong practices immediately, and return to the rules-based multilateral trade regime.” BLOOMBERG
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