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US tariffs imposed on products made in China have proven to be a complete failure to gain advantage over China and are a damaging tool that harms US businesses and consumers as well as normal business activities between the two major economies. , said experts.
The remarks came as the Office of the United States Trade Representative (USTR) said in a new assessment report on Wednesday that the country needed to pursue new strategies and update its domestic trade tools to deal with “politics non-market and state-run” of China. practices.”.
“China has not embraced the market-oriented principles on which the WTO and its rules are based, despite representations it made when it joined 20 years ago. […] China has instead retained and expanded its state-led, non-market approach to economy and trade,” Reuters reported, citing U.S. Trade Representative Katherine Tai.
The USTR’s latest statement is not just stereotypical old rhetoric against China, but also a simple and clear message that the ill-intentioned US tariffs imposed on Chinese goods by the Trump administration are a failure, said experts.
“The message of the USTR’s statement is a reflection that the tariff tool is not working, and they want to cancel the tariff, but there is not yet a new thing to follow,” Gao Lingyun said. , an expert at the Chinese Academy of Social Sciences. Sciences in Beijing, told the Global Times on Wednesday, noting that US tariffs on Chinese products only drive up costs and ultimately hurt US consumers.
Regarding the so-called “state-owned, non-market policies and practices” touted by US trade authorities, Gao said that was really old, baseless talk borrowed from the Trump administration when they tried to impose tariffs to counter China.
“China’s foreign trade mainly involves private and foreign enterprises, while the proportion of state-owned enterprises is low,” Gao added.
“The United States will realize that any attempt to increase its leverage over China will end up hurting its own interests,” Gao said, noting that China maintains an open attitude and hopes the United States will respond in kind. same way, because only then can both countries achieve their goals. business development needs.
“A lot of US tactics are not aimed at solving the trade problem but at suppressing China and Chinese companies,” said Bai Ming, deputy director of the International Market Research Institute of the Chinese Academy of International Trade and Economic Cooperation, to the Global Times. Wednesday.
“The United States should look in the mirror when it talks about subsidy measures that violate World Trade Organization (WTO) rules, because that’s what it’s been doing all along,” he said. said Bai.
This came just under a month after the WTO arbitration tribunal ruled on January 26 that because the United States had failed to implement the WTO ruling, China could impose trade retaliation against the United States of $645 million a year in trade.
This is the second time that China has won a trade retaliation suit against the United States at the WTO.
Meanwhile, China’s Ministry of Commerce urged the United States to stop making excuses and take immediate action to correct its wrongdoings in the trade investigation against China.