Hey amigos! 🌎 Guess what? China's Commerce Ministry just raised its voice 📢, expressing strong opposition to the U.S. hiking tariffs on Chinese goods under Section 301.
In a statement released on Saturday, the ministry emphasized that China has been seriously engaging with the U.S. multiple times over this issue. They're calling out these moves as typical unilateralism and protectionism. Not cool, right? 😕
According to the ministry, these tariff hikes aren't just affecting China; they're shaking up the international trade order and messing with the stability of global industrial and supply chains. And here's the kicker—it hasn't even helped the U.S. solve its own trade deficit or boost industrial competitiveness. Instead, it's just making imported goods pricier for folks in the U.S.! 💸
The latest report on the WTO compliance of the U.S., released by China's Commerce Ministry, also expresses concerns over the U.S. using Section 301 like this. 📄
China is urging the U.S. to correct its ways immediately. The ministry made it clear: they'll take firm measures to protect the interests of Chinese enterprises. Stay tuned, because this could get interesting! 🔁
What does this mean for us? Well, global trade tensions like these can impact economies worldwide, including in Latin America. It's a reminder of how interconnected we all are in this global village. Let's hope for a resolution soon! 🤞
Reference(s):
Chinese commerce ministry opposes U.S. tariff hikes on Chinese goods
cgtn.com
