GENEVA, March 26 (Xinhua) -- The U.S. government's latest tariff plan on imports from China contradicts its commitments that such a decision be based only on the World Trade Organization (WTO)'s Dispute Settlement Body (DSB), said Zhang Xiangchen, Chinese ambassador to the WTO, on Monday during a meeting here.
Zhang said what the United States had done in contradiction with its commitments made at WTO more than a decade ago, and that the United States had "explicitly, officially, repeatedly and unconditionally confirmed" that it would base a "Section 301" decision only on adopted DSB findings.
"Section 301" is a measure under the U.S. Trade Act of 1974 that allows the president to take all appropriate action, including retaliation, if an investigation finds foreign trade practices burden or restrict U.S. commerce or are unreasonable or discriminatory.
"According to the WTO rulings and the U.S. commitment, the U.S. shall by no means determine unilaterally based on a 301 investigation that other members have violated the WTO rules," Zhang said during a meeting of WTO's Council on Trade in Goods.
Last Thursday, U.S. President Donald Trump signed a memorandum that could impose tariffs on up to 60 billion U.S. dollars of imports from China and restrictions on Chinese investment in the United States.
The memorandum is based on a Section 301 investigation, launched by the Trump administration in August 2017, into alleged Chinese intellectual property and technology transfer practices.
BEIJING, March 24 (Xinhua) -- Chinese Vice Premier Liu He had a phone conversation with U.S. Treasury Secretary Steven Mnuchin Saturday morning, urging concerted efforts to maintain the stability of China-U.S. trade ties.
During their conversation, Mnuchin briefed the Chinese side on the latest development of Section 301 investigation report released by the U.S. side. Full story
BEIJING, March 24 (Xinhua) -- History tells that trade wars are a losing game. No one benefits, and everyone ends up a bit bruised.
Despite the risk of triggering a trade war, U.S. President Donald Trump signed an executive memorandum that could result in heavy tariffs on up to 60-billion-U.S.-dollar imports from China as well as restrictions on Chinese investments. Full story
WASHINGTON, March 23 (Xinhua) -- China opposes trade protectionism and will fight against any possible trade war, said Chinese Ambassador to the United States Cui Tiankai in a TV interview with U.S. Bloomberg on Friday.
Cui said the Chinese side is clearly against any unilateral protectionist moves and a trade war, which "would hurt everybody, including the United States itself, and that would certainly hurt the daily life of the American middle-class people, the American companies and the financial market." Full story
BEIJING, March 23 (Xinhua) -- The Chinese Foreign Ministry on Friday reaffirmed its position on recent U.S. trade moves, saying that China will fight to the end in any trade war.
Hua Chunying said at a daily news briefing that China urges the United States to make cautious decisions. Full story