General

At the regular press conference held by the Ministry of Commerce on July 7, in response to reports that U.S. President Biden’s team was studying options for tariffs on Chinese goods exported to the United States, Ministry of Commerce spokesperson Shu Jueting said that the Chinese side It is always believed that the cancellation of all additional tariffs on China is beneficial to China and the United States, as well as to the whole world.

Shu Jueting said that many think tanks and research institutions in China and the United States have made calculations, and the cancellation of all additional tariffs on China will have a substantial effect on reducing the level of inflation in the United States. In the current situation of high inflation, the sooner the U.S. side lifts its tariffs on China, the sooner consumers and businesses will benefit. China and the United States should meet each other halfway and make joint efforts to create an atmosphere and conditions for economic and trade cooperation, maintain the stability of global trade and industrial and supply chains, and benefit the people of the two countries and the world.

Shu Jueting said that the U.S. accusations against China regarding industrial subsidies are completely inconsistent with the facts. Since China's accession to the WTO, it has earnestly fulfilled its accession commitments, abided by the obligations of the WTO Agreement on Subsidies and Countervailing Measures, and completely cancelled the prohibitive subsidies under the agreement. For other subsidies allowed by the WTO rules, the level and methods of China's subsidies are in line with the WTO rules. China has always opposed trade protectionist practices such as the Section 301 investigation, and urged the US not to introduce new trade measures.