China says U.S. accusations of unfair commerce practices ‘groundless’

BEIJING (Reuters) – China rejected recent U.S. accusations of perpetuating “unfair” commerce practices and urged Washington on Thursday to cease making provocations, exhibiting little signal of backing down days forward a high-stakes assembly between leaders from each international locations.

President Xi Jinping is because of maintain talks with U.S President Donald Trump throughout a G20 summit in Argentina on the finish of the month, with the remainder of the world hoping they’ll discover a approach to de-escalate a commerce struggle that’s threatening the worldwide economic system.

China’s commerce ministry stated it’s deeply involved by a report issued by the U.S. administration this week, which stated China had failed to change its “unfair” practices.

“The usside made new groundless accusations towards the Chinese language aspect, and China finds it completely unacceptable,” Commerce Ministry spokesman Gao Feng advised reporters at a information convention in Beijing.

The findings have been issued in an replace of the U.S. Commerce Consultant’s “Part 301” investigation, which appears to be like into China’s mental property and know-how switch insurance policies and has sparked U.S. tariffs on $50 billion value of Chinese language items that later ballooned to $250 billion.

Gao stated the report displays U.S. unilateralism in violation of World Commerce Group guidelines.

“We hope america will drop the phrases and behaviors that injury bilateral financial and commerce relations and undertake a constructive angle,” Gao stated.

The ministry can also be evaluating the potential influence from a separate U.S. proposal this week to extend management over know-how exports, and stated it could take the required steps to uphold Chinese language companies’ official pursuits.

Citing safety issues, the U.S. authorities on Monday proposed stepping up scrutiny over know-how exports in 14 key high-tech areas together with synthetic intelligence and microprocessor know-how, a transfer that many analysts view as straight concentrating on China.

A 30-day public session interval on the proposal to incorporate these sectors in its broader export management regime is underway and can finish on Dec. 19, in response to a doc revealed on the U.S. authorities’s Federal Register on Monday.

“We’re evaluating the measures that america could take,” Gao stated, stressing that Washington’s generalization of the idea on nationwide safety would solely end in pointless boundaries and injury commerce.

FILE PHOTO: Delivery containers are seen at a port in Shanghai, China July 10, 2018. REUTERS/Aly Track/File Picture

“China can pay shut consideration to the related U.S. laws and take needed measures to safeguard the official rights and pursuits of Chinese language enterprises as applicable,” he stated.

Washington is demanding Beijing to enhance market entry and mental property protections for U.S. corporations, lower industrial subsidies and slash a $375 billion commerce hole. Trump has imposed tariffs on $250 billion of Chinese language imports to drive concessions.

The U.S. tariff fee on $200 billion in Chinese language items is about to extend to 25 p.c from 10 p.c on Jan. 1. Trump has threatened to impose tariffs on all remaining Chinese language imports – about $267 billion extra in items – if Beijing fails to handle U.S. calls for.

Reporting by Yawen Chen and Ryan Woo; Modifying by Simon Cameron-Moore

Author: Maxwell C.

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