China Refutes US EU Statement on Steel Over Capacity in China
Chinese media reported that China’s Foreign Ministry has urged US to stop forming small cliques targeting China, saying such twisted and narrow-minded
Chinese media reported that China’s Foreign Ministry has urged US to stop forming small cliques targeting China, saying such twisted and narrow-minded mentality is not befitting of a global power. Chinese Foreign Ministry spokesperson Mr Zhao Lijian said “How the US develops its economic and trade relations with Europe are its own business, but they should not use China as a pretext or even attempt to form a small clique against China. I want to ask certain people, what is their basis for such groundless accusations against China? China does not pursue hegemony, conduct long-arm jurisdiction or unjustifiably suppress foreign companies.”
The spokesperson also took an aim at the US' protectionist moves, saying that certain countries have arbitrarily taken unilateral trade measures, such as increasing tariffs and unilaterally obstructing the normal operation of the WTO Appellate Body. Urging countries to abandon zero-sum mentality and resolve disputes through talks on the basis of mutual respect and in accordance with relevant WTO rules, he said "This is precisely the biggest distortion of the normal international trade order.”
As for accusations of China causing steel overcapacity, Zhao suggested that China has made concrete contribution to reducing capacity. He said "We hope each party would take effective measures to safeguard the stability of global markets and trade.”
The comment came after the US and the EU on Monday agreed not to escalate their dispute over US steel and aluminium tariffs and said in a joint statement that they can work together to hold countries like China that support trade-distorting policies to account.