📢 In a bold move, China's Ministry of Commerce just dropped a new report calling out the U.S. for not playing by the World Trade Organization (WTO) rules. According to the report released on Thursday, the U.S. has been bending the rules, using \"national security\" as an excuse to politicize and weaponize economic and trade issues under the so-called \"de-risking\" strategy.
Building on their first report from August 2023, China's latest release continues to express serious concerns 🚨 over U.S. policies that they say undermine global trading norms. The report accuses the U.S. of imposing unilateral sanctions, practicing double standards in industrial policies, and disrupting global industrial and supply chains 🌐.
China points out that the U.S. has been ramping up unilateral sanctions, using discriminatory measures, and hiking up tariff barriers. These actions, according to the report, are challenging the multilateral trading system and harming the interests of WTO members worldwide 🌍.
Despite the WTO ruling that the U.S. Section 301 tariffs violate WTO rules, China notes that the U.S. continues to ignore this, keeping those tariffs in place and even launching new investigations. The report labels the U.S. as a \"destroyer of the multilateral trading system\" 😲.
Furthermore, the report criticizes the U.S. for suppressing companies from other countries under the guise of \"national security,\" imposing unilateral sanctions, and extending its \"long-arm jurisdiction\" over normal economic and trade exchanges. Such actions are seen as \"unilateralist bullying\" by China 🤐.
The U.S. is also accused of hyping up rhetoric about \"China's overcapacity\" while implementing exclusive and discriminatory subsidy policies. By using investment restrictions and export controls, the U.S. is said to be suppressing the development of industries in other countries, showcasing double standards in industrial policy 🙄.
Wrapping up, the report urges the U.S. to correct its actions, abide by WTO rules, honor its commitments, and return to an open, fair, transparent, inclusive, and non-discriminatory multilateral trading system. Time to play fair, folks! 🏀
Reference(s):
cgtn.com
