Beijing warns US actions could undermine trust in Chinese firms
Photo: China will monitor US actions and take measures to protect its rights (Getty Images)
China has urged the US to stop politicizing economic and trade issues. According to China, actions by the US government that intensify the review of business relations for security reasons will undermine the trust of Chinese companies investing in the US, Bloomberg informs.
The comments from China’s Ministry of Commerce followed the release of the investment policy "America First," which names China among the "adversaries" that systematically direct and promote investments in American companies and assets "to obtain cutting-edge technologies, intellectual property, and leverage in strategic industries."
While President Donald Trump had previously hinted at the possibility of an agreement to prevent further escalation of the trade war with China, Beijing's positive trade balance of $295 billion with Washington remains a major concern for the new American administration.
A representative of the Ministry of Commerce stated that Beijing will closely monitor US actions and take necessary measures to protect its legitimate rights and interests.
Beijing claimed that Washington's statements accusing China of failing to stop fentanyl trafficking were a "pretext" for imposing charges.
In a separate statement on February 23, the Ministry of Commerce said that the proposed US restrictive measures against China's maritime, logistics, and shipbuilding industries harm both other countries and the United States itself. Beijing urged Washington to respect the facts and multilateral rules and to "stop its wrongdoings."
It is worth noting that the Trump administration informed Mexican officials that they should impose tariffs on Chinese imports.
The US President mentioned the possibility of reaching a new agreement with China, signaling a willingness to prevent trade confrontation between Washington and Beijing.
Earlier, Trump intensified pressure on China by imposing an additional 10% tariff on imports as punishment for alleged unfair trade practices and the failure to stop the flow of fentanyl into the US.
