China rejects US trade complaint, criticizes Washington

By AP News

Share:

BEIJING (AP) — China on Thursday rejected a U.S. accusation that Beijing is failing to live up to its market-opening commitments in a new round of complaints as companies wait for the two governments to restart talks on ending a tariff war.

BEIJING (AP) — China on Thursday rejected a U.S. accusation that Beijing is failing to live up to its market-opening commitments in a new round of complaints as companies wait for the two governments to restart talks on ending a tariff war.

The Ministry of Commerce criticized the Biden administration for saying it is developing new ways to deal with Chinese trade tactics.

U.S. Trade Representative Katherine Tai on Wednesday said Beijing has “expanded its state-led, non-market approach” instead of carrying out market-opening promises made when it joined the World Trade Organization in 2001.

That complaint is “completely at odds with the facts,” said a Ministry of Commerce spokesman, Gao Feng.

“There are many different market economic models,” Gao said at a news briefing.

President Joe Biden has said he wants better relations with Beijing but has yet to say what he will do about tariff hikes imposed on Chinese imports by his predecessor, Donald Trump. Envoys from the two sides have talked by phone since Biden took office in January 2020 but have announced no plans to meet.

Washington is exploring new ways to use “domestic trade tools” to “achieve a more level playing field with China," Tai's office said in a report to Congress.

“The United States should make its trade tools conform to WTO rules, rather than adopting a different set, pursuing unilateralism, protectionism and bullying in the name of seeking a new strategy,” Gao said.

Share:

Author: AP News

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Originally published by Associated Press Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

Sign up for VTM Updates

Form submitted successfully!

Top Picks for Q2 2022

View More

Crypto Corner

Learn your NFTs from your BTCs