China: "Tariff Measures Will Worsen Inflation in the US"
Amid the announcement that the United States will double tariffs to 50% on solar wafers and polysilicon imported from China starting January next year, China criticized the move, saying it would exacerbate inflation in the U.S.
On the 16th, a spokesperson for the Chinese Ministry of Commerce stated on the ministry's website, "China's position opposing unilateral additional tariff measures remains consistent," adding, "We have submitted stern negotiations to the U.S. multiple times."
The spokesperson further criticized, "Tariff measures will neither resolve the U.S. trade deficit nor its industrial competitiveness issues, but will worsen inflation within the U.S., harm American consumers' interests, and severely disrupt the international economic and trade order, as well as the stability of global industries and supply chains."
They also asserted, "The U.S. must immediately correct its mistaken actions," and "China will take necessary measures to firmly safeguard its rights and interests."
Earlier, the U.S. Trade Representative (USTR) announced on the 11th (local time) via a press release that tariffs on Chinese solar wafers and polysilicon would be doubled to 50%, and tariffs on tungsten would be raised from 0% to 25%.
Solar wafers and polysilicon are used in the manufacturing of solar cells, while tungsten is used in weapons or computer chip manufacturing.
In May, President Joe Biden instructed the USTR to raise tariffs on China in response to unfair trade practices and resulting damages, including on electric vehicles and batteries. Accordingly, the USTR implemented measures such as increasing tariffs on Chinese electric vehicles to 100%.
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