China is calling out the U.S., urging it to return to the rules-based multilateral trading system 🌐. On Friday, Chinese Foreign Ministry spokesperson Guo Jiakun emphasized that the U.S. should respect facts and international trade rules, stop its \"wrongdoing,\" and abandon protectionism.
This comes after the U.S. released a Section 301 investigation report targeting China's maritime, logistics, and shipbuilding industries 🚢. Guo highlighted that the Biden administration's move violates World Trade Organization (WTO) rules and is a clear act of protectionism. \"China is strongly dissatisfied with and firmly opposes such an act,\" he stated, noting that China has made its position clear multiple times.
Guo pointed out that even U.S. research reports admit that America's shipbuilding industry lost its competitive edge years ago due to overprotection 🛡️. He argued that China's success in these industries is due to technological innovation, active market participation, a complete industrial system, and a massive domestic market 🔧🏭.
Accusing the U.S. of blaming China for its own problems, Guo said such actions lack factual basis and defy economic common sense 🤔. He affirmed that China will closely monitor the investigation's progress and will take necessary measures to protect its rights and interests.
It seems like this trade drama is heating up 🎭! We'll keep you posted on any developments.
Reference(s):
China urges U.S. to return to rules-based multilateral trading system
cgtn.com
