The latest statement of the Ministry of Foreign Affairs! In response to the U.S. imposing tariffs on China's electric vehicles, refuting the "overcapacity theory"

National Business Daily

2024-05-14 17:24Published on the official account of Sichuan Daily Economic News

Edited: Huang Sheng

On May 14, Foreign Ministry Spokesperson Wang Wenbin held a regular press conference.

The Ministry of Foreign Affairs responds to "the United States will impose tariffs on electric vehicles in China"

What is China's response to the reported announcement that US President Joe Biden will announce tariffs on Chinese products this week, targeting Chinese electric vehicles, medical supplies, and solar products?

Wang Wenbin said that you can learn about the specific situation from the competent authorities. We would like to tell you that China has always opposed the unilateral imposition of tariffs in violation of WTO rules and will take all necessary measures to safeguard its legitimate rights and interests.

The Ministry of Foreign Affairs refutes the "overcapacity theory" of the US Treasury Secretary

A reporter asked, recently, in an interview with the US media, US Treasury Secretary Yellen once again talked about China's so-called "overcapacity" in the field of new energy such as electric vehicles. In response to the moderator's questioning, Yellen said, "The United States will be very clear about investment subsidies in strategic areas, but we don't want China to provide large subsidies to companies with serious overcapacity, which will only squeeze our companies out of the market." Do you have any comment?

Wang Wenbin said: We have taken note of relevant reports. According to the logic of the United States, subsidies by the United States are "vital industrial investment", and subsidies by other countries are "worrying unfair competition"; The United States exports products with comparative advantages to the world as "free trade," and other countries export products with comparative advantages to the world as "overcapacity." In Chinese terms, this means "only the state officials are allowed to set fires, and the people are not allowed to light lamps", and in American terms, "you can't learn what I do, I say you must do it". In the final analysis, the United States is suppressing the advanced industries of other countries under the banner of "overcapacity" and engaging in protectionism under the pretext of "fair competition."

Wang Wenbin pointed out that I would like to reiterate that the rapid development of China's new energy industry, including electric vehicles, lithium batteries and photovoltaic products, is based on continuous technological innovation, improvement of the production and supply chain system and full market competition. We advise the US side to abandon the hypocrisy and double standards of inconsistent minds, and not to repeat the mistakes of protectionism.

Daily Economic News, Comprehensive CCTV News

National Business Daily

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