China urges the US to stop its wrong practice of economic and trade restrictions
The United States generalized the Section 301 investigation on national security and abuse and announced that it would impose restrictions on two-way investment and China's maritime, logistics and shipbuilding industries. On February 22 and 23, China's Ministry of Commerce issued a series of statements urging the United States to abide by international investment and trade rules, respect the laws of the market economy, and stop politicizing and weaponizing economic and trade issues. It said it would take necessary measures to defend its legitimate rights and interests.
On February 21, local time, the White House issued an "America First" investment policy memorandum, which directly targeted China, not only restricting China's investment in key areas such as high technology in the United States, but also declared that it would use all necessary legal means to further prevent U.S. investment in China.
A White House official told Reuters that the "America First" investment policy memorandum aims to promote foreign investment while protecting U.S. national security interests, particularly against threats posed by "foreign adversaries" like China. The memo states that "economic security is national security," while emphasizing that the United States will maintain an open investment environment, welcome investment from Allies, and provide investment facilitation for them to establish a "fast track," while discriminatively accusing foreign adversaries such as China of "systematically guiding and promoting investment in U.S. companies and assets." To gain access to cutting-edge technology, intellectual property and influence in strategic industries."
The memo states that the US will "use all necessary legal means", including through the Committee on Foreign Investment in the United States (CFIUS), to block China-linked investments in US "technology, critical infrastructure, healthcare, agriculture, energy, raw materials or other strategic sectors", while further blocking US investment in China's defence sector. In addition, the United States is reviewing previous relevant executive orders to consider adding or expanding existing investment restrictions on China in semiconductors, artificial intelligence, quantum, biotechnology, hypersonic, aerospace, and other areas involved in the "civil-military integration" strategy.
In response, the spokesperson of the Chinese Ministry of Commerce said on the evening of the 22nd that the US practice generalizes the concept of national security, is discriminatory and is a typical non-market practice, which seriously affects the normal economic and trade cooperation between enterprises of the two countries. In terms of Chinese investment in the United States, the United States will tighten the security review of Chinese investment, which will seriously hurt the confidence of Chinese enterprises in the United States. We hope that the US side will provide a fair, transparent, stable and predictable business environment for Chinese enterprises to invest in the US. In terms of US investment in China, the US side will take more restrictive measures, which is very unreasonable. Once the relevant measures are implemented, they will further distort investment exchanges between the two countries and do no good to the US itself. Many US business associations and companies have argued that restrictions on US investment in China will cause US companies to cede the Chinese market to other competitors.
Echoing the "America First" investment policy memorandum, the Office of the United States Trade Representative (USTR) on the 21st, based on a Section 301 investigation into China's maritime, logistics and shipbuilding industries, proposed to impose certain fees and restrictions on international seagoing services related to Chinese ship operators and Chinese-built vessels, while facilitating the movement of U.S. goods through U.S. vessels. USTR will seek public comment on the proposed restrictions.
The previous US administration launched the Section 301 investigation in April last year, and in its report released on January 16 this year declared that "China's intent to dominate the maritime, logistics, and shipbuilding industries is unreasonable and suppresses or restricts US commerce."
"China urges the US side to respect facts and multilateral rules and stop wrong practices." China will pay close attention to the moves of the US side and take necessary measures to defend its legitimate rights and interests." Since March 2024, China and the United States have conducted several rounds of communication on investigations related to the US maritime, logistics and shipbuilding industries in China, the spokesperson of China's Ministry of Commerce pointed out on February 23. China has repeatedly stated its views on the Section 301 investigation and provided non-documents on its position, asking the US side to return to rationality and objectivity and stop blaming China for industrial development issues in the US. But regrettably, the US is still going its own way and going further and further down the wrong path.
The spokesperson said that the US abused the Section 301 investigation out of domestic political needs and further undermined the multilateral trading system. The proposed restrictions such as the imposition of port fees by the US side will not help revitalize the US shipbuilding industry. Instead, they will increase transportation costs on US-related shipping routes, increase inflationary pressure in the US, reduce the global competitiveness of US goods, and harm the interests of US port and terminal operators and workers.
Trump once again entered the White House, and on the basis of the previous executive order to increase restrictions on China, this continuous policy reflects the deep anxiety of both parties in the United States about the rise of China's technology, that is, China's rapid development in artificial intelligence, chips and other fields is challenging the foundation of the traditional hegemony based on technological advantages of the United States.
"The relevant measures of the United States Section 301 are an extension of the unilateral trade protection and special containment measures of the United States against China, from trade tariff barriers to specific trade transportation and logistics, and even the production, purchase and leasing of transport vehicles." The destructive cycle is long, wide and deep, far more serious than the consequences of increasing tariffs." Kang Shuchun, president of the International Freight Forwarding branch of the China Federation of Logistics and Purchasing, told the Global Times on the 23rd that the US restrictions will hurt others and bite the US economy.
On February 21, local time, the White House issued an "America First" investment policy memorandum, which directly targeted China, not only restricting China's investment in key areas such as high technology in the United States, but also declared that it would use all necessary legal means to further prevent U.S. investment in China.
A White House official told Reuters that the "America First" investment policy memorandum aims to promote foreign investment while protecting U.S. national security interests, particularly against threats posed by "foreign adversaries" like China. The memo states that "economic security is national security," while emphasizing that the United States will maintain an open investment environment, welcome investment from Allies, and provide investment facilitation for them to establish a "fast track," while discriminatively accusing foreign adversaries such as China of "systematically guiding and promoting investment in U.S. companies and assets." To gain access to cutting-edge technology, intellectual property and influence in strategic industries."
The memo states that the US will "use all necessary legal means", including through the Committee on Foreign Investment in the United States (CFIUS), to block China-linked investments in US "technology, critical infrastructure, healthcare, agriculture, energy, raw materials or other strategic sectors", while further blocking US investment in China's defence sector. In addition, the United States is reviewing previous relevant executive orders to consider adding or expanding existing investment restrictions on China in semiconductors, artificial intelligence, quantum, biotechnology, hypersonic, aerospace, and other areas involved in the "civil-military integration" strategy.
In response, the spokesperson of the Chinese Ministry of Commerce said on the evening of the 22nd that the US practice generalizes the concept of national security, is discriminatory and is a typical non-market practice, which seriously affects the normal economic and trade cooperation between enterprises of the two countries. In terms of Chinese investment in the United States, the United States will tighten the security review of Chinese investment, which will seriously hurt the confidence of Chinese enterprises in the United States. We hope that the US side will provide a fair, transparent, stable and predictable business environment for Chinese enterprises to invest in the US. In terms of US investment in China, the US side will take more restrictive measures, which is very unreasonable. Once the relevant measures are implemented, they will further distort investment exchanges between the two countries and do no good to the US itself. Many US business associations and companies have argued that restrictions on US investment in China will cause US companies to cede the Chinese market to other competitors.
Echoing the "America First" investment policy memorandum, the Office of the United States Trade Representative (USTR) on the 21st, based on a Section 301 investigation into China's maritime, logistics and shipbuilding industries, proposed to impose certain fees and restrictions on international seagoing services related to Chinese ship operators and Chinese-built vessels, while facilitating the movement of U.S. goods through U.S. vessels. USTR will seek public comment on the proposed restrictions.
The previous US administration launched the Section 301 investigation in April last year, and in its report released on January 16 this year declared that "China's intent to dominate the maritime, logistics, and shipbuilding industries is unreasonable and suppresses or restricts US commerce."
"China urges the US side to respect facts and multilateral rules and stop wrong practices." China will pay close attention to the moves of the US side and take necessary measures to defend its legitimate rights and interests." Since March 2024, China and the United States have conducted several rounds of communication on investigations related to the US maritime, logistics and shipbuilding industries in China, the spokesperson of China's Ministry of Commerce pointed out on February 23. China has repeatedly stated its views on the Section 301 investigation and provided non-documents on its position, asking the US side to return to rationality and objectivity and stop blaming China for industrial development issues in the US. But regrettably, the US is still going its own way and going further and further down the wrong path.
The spokesperson said that the US abused the Section 301 investigation out of domestic political needs and further undermined the multilateral trading system. The proposed restrictions such as the imposition of port fees by the US side will not help revitalize the US shipbuilding industry. Instead, they will increase transportation costs on US-related shipping routes, increase inflationary pressure in the US, reduce the global competitiveness of US goods, and harm the interests of US port and terminal operators and workers.
Trump once again entered the White House, and on the basis of the previous executive order to increase restrictions on China, this continuous policy reflects the deep anxiety of both parties in the United States about the rise of China's technology, that is, China's rapid development in artificial intelligence, chips and other fields is challenging the foundation of the traditional hegemony based on technological advantages of the United States.
"The relevant measures of the United States Section 301 are an extension of the unilateral trade protection and special containment measures of the United States against China, from trade tariff barriers to specific trade transportation and logistics, and even the production, purchase and leasing of transport vehicles." The destructive cycle is long, wide and deep, far more serious than the consequences of increasing tariffs." Kang Shuchun, president of the International Freight Forwarding branch of the China Federation of Logistics and Purchasing, told the Global Times on the 23rd that the US restrictions will hurt others and bite the US economy.
