China strongly rebukes latest restrictions on US exports.
The United States has implemented stricter regulations against several Chinese and Russian companies, aiming to block supplies to the Russian military. Beijing strongly opposes these licenses and threatens retaliatory action.
China has strongly condemned the US restrictions on more than 100 Chinese exporters, which disturb the harmony of global trade and hinder the smooth exchange of goods, the Ministry of Commerce in Beijing said. China vows to take appropriate measures to protect the legitimate interests of its companies.
Last Friday, the U.S. government announced a decision placing 105 companies — 42 Chinese, 63 Russian, and 18 from other countries — on a trade restriction list. These companies are sanctioned for a variety of reasons, including the transfer of American electronics to the Russian military and the mass production of drones used by Russia during its invasion of Ukraine. To continue operating, these companies now have to obtain particularly demanding licenses.
As a global economic giant, tensions over a possible trade war between the United States and China have increased in recent weeks. The US administration argues that China favors key industries by subsidizing the state-owned sector, thus flooding global markets with cheap surplus goods. As a result, the United States, together with the EU, have imposed tariffs on several products, including Chinese electric vehicles.
Furthermore, as the trade conflict between the EU and China escalates, the Ministry of Commerce in Beijing announced on Wednesday a further anti-dumping investigation into EU imports. The affected products include dairy products such as various types of cheese, milk and cream. Previously, in June, an anti-dumping investigation into EU pork exports was launched. The German government is optimistic that a solution can be found during the negotiations.
Rising trade tensions between the United States and China have led to trade disputes, with China staunchly opposing U.S. restrictions on its exporters. These actions could potentially escalate and affect the normal flow of global trade.