China’s trade threat against the West

According to the international group Tasnim News Agency “Wirtschaftswohe He wrote in an article: trade disputes between China and the West continue to intensify. First, “Joe Biden” increased tariffs on Chinese electric cars, and now Beijing is considering punitive tariffs on chemical imports from the United States and the European Union.

This report states: In the trade dispute with the United States of America and the European Union, China has threatened the West to impose tariffs on some chemicals, some of which are also used in cars. China’s Ministry of Commerce has launched an anti-dumping investigation into such chemicals from the European Union, the United States, Japan and Taiwan.

China’s Ministry of Commerce announced on Sunday. , the chemical in question is “copolymerized paraformaldehyde” which can partially replace copper, zinc, tin, lead and other metal materials and is used in automobile parts, electrical devices and industrial machinery. . In foreign trade, dumping means selling a product below production cost in violation of trade laws.

The investigation is expected to be completed within a year, but could take six months. to be extended “in special circumstances”. A spokesperson of the European Union said in response to a question in Brussels on Sunday that the European Commission has taken this decision of the People’s Republic of China into consideration. He added: “We will now carefully review the contents of the investigation before deciding on the next steps.” They know the latter with the West. US President Joe Biden, among other things, has imposed 100% special tariffs on the import of electric cars from China. The European Union is currently investigating the extent of China’s distortion of the electric vehicle market. A decision on whether the EU will impose punitive tariffs is still pending. Of course, Olaf Schultz, the chancellor of Germany and the country’s economy, had spoken against such tariffs.

“Bernard Lange”, the head of the trade committee in the European Parliament, expects that the Union Europe will soon impose tariffs on Chinese electric cars. Lange told Germany’s editorial network (RND): “I assume that the investigation into unfair trade practices will lead to countervailing tariffs for some products.

Criticizing this action of the Americans, he said: The United States has fundamentally changed its attitude on trade issues, international laws are less and less important. Lang assesses a great danger for Europe in the shadow of these conditions, that even more exports from China enter the European market. A prime minister in Germany is also of the opinion that the European Union should be very cautious about the possible escalation of import tariffs.

Marz warned his supporters in an email: Otherwise, the United States and China will react and increase the tariffs and increase the existing tariffs even more. Even if the current phase of trade policy is in a different direction, the EU must fundamentally stick to its belief that open markets and global free trade are best suited to create prosperity and growth.

Schultz also recently warned against closing the markets in the shadow of these disputes. In a speech in Berlin, he said: In the end, protectionism makes everything more expensive. What we need is free and fair global trade that should not be undermined.

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