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Trade war! China condemns new US tariffs, demands immediate rollback

The decision comes as Beijing and Washington prepare for a possible visit by Chinese President Xi Jinping to the United States in September

Снимка: БГНЕС/ЕРА

China has called on the United States to roll back new tariffs on Chinese goods imposed over alleged forced labor, calling them unjustified and protectionist. In a statement released on Monday, China's Commerce Ministry said the measures were a unilateral approach and warned it reserved the right to retaliate, Reuters reported.

On Friday, Washington imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, arguing that they had failed to restrict imports of products made with forced labor. A rate of 12.5% was set for Chinese goods.

The new tariffs could put pressure on the fragile trade truce between the world's two largest economies, reached last year. The decision also comes as Beijing and Washington prepare for a possible visit by Chinese President Xi Jinping to the United States in September.

The Ministry of Commerce said that Washington has long used the issue of forced labor as a tool in trade policy and stressed China's willingness to continue dialogue "based on mutual respect, equality and mutual benefit" to overcome differences.

"This time (Washington) has again initiated a Section 301 investigation and imposed unilateral tariffs on the grounds of "forced labor", which is a typical act of unilateralism and protectionism, and China firmly opposes it," the ministry said.

Beijing also said: "China consistently opposes forced labor and has established a comprehensive system of labor laws and regulations to resolutely prevent and combat forced labor practices." In contrast, the US not only has not ratified the 1930 Forced Labor Convention, but has also been manipulating the issue of "forced labor" for a long time."

According to the ministry, during the trade negotiations, the US had committed that the replacement tariffs on Chinese goods would not exceed 20%, and the new rate of 12.5% remains within that range.

"China urges the US to correct its wrong practices and completely eliminate relevant unilateral tariff measures," the ministry said.

The ministry added that it assessed Washington's further actions and reserved the right to take necessary measures.

"We hope that the US will work with China to maintain and implement the consensus reached during the trade consultations, continuously reduce the list of problems and expand the list of issues related to cooperation", the ministry said.