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China Retaliates Against US and EU Amid Intensifying Trade Disputes

Published by admin on May 20th, 2024.

China Retaliates Against US and EU Amid Intensifying Trade Disputes

China has initiated an anti-dumping investigation into imports of polyoxymethylene copolymer from the US, EU, Taiwan, and Japan. This material, commonly used in electronics and automotive industries, is at the center of China’s latest move in its ongoing trade conflicts with the US and Europe.

The Ministry of Commerce’s announcement signals China’s readiness to respond to the escalating trade tensions. These tensions have heightened in recent months, with the US expanding border taxes on Chinese goods, continuing policies from the Trump era.

China’s commerce ministry condemned these new US measures, stating they would “severely affect the atmosphere for bilateral cooperation” and criticized the perceived politicization of economic issues. In anticipation of the White House’s policy announcements, a spokesperson for China’s foreign ministry declared that China would “take all necessary measures to safeguard its legitimate rights and interests.

“Simultaneously, Europe has intensified its scrutiny of Chinese imports. On Friday, the EU announced an investigation into Chinese tinplate steel imports. Last month, the European Commission launched probes into two Chinese solar panel manufacturers suspected of benefiting from government subsidies. Additionally, the European Commission has set a deadline of July 4th to decide on potential actions against Chinese-made electric vehicle imports.