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China criticizes US investigation into its shipbuilding industry, says move is a 'mistake on top of a mistake' – NBC 5 Dallas-Fort Worth

China criticizes US investigation into its shipbuilding industry, says move is a 'mistake on top of a mistake' – NBC 5 Dallas-Fort Worth

 


  • China said on Wednesday it “firmly opposes” the US investigation into its maritime, logistics and shipbuilding sectors.
  • The United States accuses China of “unfair and non-market policies and practices” to dominate these industries.
  • “By launching a new investigation under Section 301, the United States is making an error on top of an error,” China's Commerce Ministry said on Wednesday.

China said it “firmly opposed” the US investigation into its maritime, logistics and shipbuilding sectors, calling the move a “mistake on top of a mistake.”

In a official statement China's Commerce Ministry said late Wednesday that the United States was providing hundreds of billions of dollars in “discriminatory” subsidies to its domestic industries, “while accusing China of adopting so-called 'non-market practices.' “.

“In fact, the development of China's industries is the result of enterprises' technological innovation and active participation in market competition,” the Chinese ministry said.

On Wednesday, the office of the United States Trade Representative launched an investigation in China's shipping, logistics and shipbuilding sectors, alleging that Beijing used “unfair and non-market policies and practices” to dominate these sectors. Under the Trade Act of 1974, Section 301 is intended to combat unfair practices by foreign governments that impact U.S. commerce.

“By launching a new investigation under Section 301, the United States is making an error on top of an error,” China's Commerce Ministry said.

Beijing called on the United States to “respect multilateral rules” and pledged to “take all necessary measures to resolutely defend its rights and interests.”

The investigation comes as five national unions launched a petition on March 12 calling on the United States to investigate the policies and practices of China's maritime, logistics and shipbuilding sectors.

Ambassador Katherine Tai, the US Trade Representative, pledged to launch a “full and thorough investigation into the unions' concerns.”

“These allegations reflect what we have already seen in other sectors, where [China] “uses a wide range of non-market policies and practices to undermine fair competition and market dominance, both in China and around the world,” she said, according to the USTR statement.

President Joe Biden also called on the USTR to triple tariffs on Chinese imports of steel and aluminum in order to protect American industries.

“Chinese policies and subsidies to their domestic steel and aluminum industries mean that high-quality American products are undercut by artificially low-cost Chinese alternatives produced with higher emissions,” the White House said in a statement. statement.

In a speech to union workers in Pittsburgh On Wednesday, Biden accused China of “cheating” in its steel trade practices.

“They don't compete. They cheat,” he said, adding that “we've seen the damage here in America.”

“Ultimately, I want fair competition with China, not conflict.”

Deborah Elms, head of trade policy at the Hinrich Foundation, said the Section 301 investigation could be more important than Biden's call for tariff hikes on Chinese steel imports and aluminum.

The total amount of Chinese steel in the U.S. market is less than 1%, Elms told CNBC.Capital connection” THURSDAY.

She said launching a Section 301 investigation into shipbuilding “potentially becomes increasingly problematic.”

“Now it could be much more significant because it creates stakes for further retaliation by the United States against China, and then potentially by China against the United States,” Elms said.

“As we head into a very close election period, both parties [Democrats and Republicans] are competing in the United States to see who could be toughest on China. »

Sources

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2/ https://www.nbcdfw.com/news/national-international/china-slams-u-s-probe-into-its-shipbuilding-industry-says-move-is-a-mistake-on-top-of-a-mistake/3518277/

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