Apr 21, 2024 (MENAFN via COMTEX) --
(MENAFN) The Chinese Ministry of Commerce has issued a strong statement expressing Beijing's opposition to the United States' proposed measures to impose restrictions on Chinese steel and aluminum products. The Ministry pledged to take decisive actions to safeguard China's interests in response to these developments. According to reports from Bloomberg News Agency, the Ministry emphasized its firm stance against the escalation of tariffs on Chinese goods and urged the US to refrain from imposing additional duties on Chinese products. Furthermore, the Ministry warned that China will employ all necessary measures to defend its rights in the face of such actions.
The statement comes in the wake of US President Joe Biden's directive to the Office of the Trade Representative to explore options for increasing customs duties on Chinese steel and aluminum. President Biden cited concerns over perceived "unfair and non-market" practices by Beijing as the basis for this decision. The proposed measure entails tripling the current tariffs on these Chinese imports. However, President Biden clarified that the intention behind these actions is not to instigate a trade war with China, emphasizing the need to address what the administration views as unfair trade practices without escalating tensions with the global economic powerhouse.
The friction over trade policies between the US and China underscores the ongoing complexities and challenges in bilateral relations between the two nations. As both sides navigate issues related to trade, tariffs, and economic competitiveness, tensions continue to simmer, prompting responses from Chinese authorities aimed at protecting the country's economic interests. The statements from the Chinese Ministry of Commerce signal China's readiness to assertively defend its position amidst the evolving dynamics of the global trade landscape.
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COMTEX_451194210/2604/2024-04-21T17:40:54
