China vigorously rebukes the latest U.S. export limitations.
The United States has implemented stricter regulations against numerous companies from China and Russia, aiming to block supplies to Russia's military. Beijing strongly objects to these licenses and warns of retaliatory actions.
China has strongly reproached the U.S.'s tightened regulation of over 100 exporters hailing from China. The action disrupts global trade harmony and impairs regular commodity exchanges, as expressed by the Ministry of Commerce in Beijing. China vows to implement suitable measures to safeguard its companies' legitimate interests.
On a recent Friday, the U.S. government announced a decision placing 105 firms – 42 Chinese, 63 Russian, and 18 from other countries – on a list of trade restrictions. These companies are sanctioned due to various reasons, including transferring American electronics to the Russian military and mass-producing drones used by Russia during its takeover of Ukraine. To proceed with business, these firms must now obtain particularly challenging licenses.
As global economic giants, tensions regarding a potential trade war between the U.S. and China have escalated in recent weeks. The U.S. administration alleges that China, with subsidies from the state-owned sector, boosts key industries, thereby flooding worldwide markets with low-cost surplus goods. Consequently, the U.S., along with the EU, has imposed duties on various items, notably Chinese electric vehicles.
Furthermore, as the trade conflict between the EU and China intensifies, the Ministry of Commerce in Beijing announced on Wednesday an additional anti-dumping investigation into EU imports. Affected commodities include dairy products like various types of cheese, milk, and cream. Previously, in June, an anti-dumping investigation was kicked off regarding EU pork exports. The German government is optimistic that a resolution can be reached during negotiations.
The escalating trade tensions between the U.S. and China have led to trade disputes, with China strongly opposing the U.S.'s tightened regulations against its exporters. These dispute-causing actions could potentially escalate and impact the normal flow of global trade.
